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Published on 1/06/2021 1:05:56 PM | Source: Monarch Networth Capital Ltd

USD/INR futures pair has support at 72.70 levels whereas resistance is placed at 73.10 levels - Monarch Networth Capital

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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 72.70 levels whereas resistance is placed at 73.10 levels. The pair is expected to trade weak below 72.80 levels up to 72.65 and 72.50 levels.

* The EUR/INR futures pair has support at 88.50 levels whereas resistance is placed at 89.20 levels. The pair is expected to trade range bound until either side level is breached.

* The GBP/INR futures pair has support at 102.85 levels whereas resistance is placed at 103.65 levels. The pair is expected to trade range bound until either side level is breached.

* The JPY/INR futures pair has support at 66.30 levels whereas resistance is placed at 66.85 levels. The pair is expected to trade weak below 66.30 levels up to 66.20 and 66.10 levels

CHART OF THE DAY

Strategy: Intraday

* JPYINR pair is trading below down ward sloping trend line.

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 66.85 level should be taken as selling opportunity targeting 66.30- 66.10 levels on lower side.

* For Intraday session, it has support at 66.30 – 66.10 levels whereas resistance is placed at 66.85 - 67 levels.

 

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