USDINR pair is trading above down ward sloping trend line - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 73.20 levels whereas resistance is placed at 73.65 levels. The pair is expected to trade firm above 73.50 levels up to 73.65 and 73.80 levels.
* The EUR/INR futures pair has support at 89.20 levels whereas resistance is placed at 89.90 levels. The pair is expected to trade range bound until either side level is breached.
* The GBP/INR futures pair has support at 103.40 levels whereas resistance is placed at 104.10 levels. The pair is expected to trade range bound until either side level is breached.
* The JPY/INR futures pair has support at 66.55 levels whereas resistance is placed at 67.10 levels. The pair is expected to trade weak below 66.70 levels up to 66.55 and 66.40 levels.
CHART OF THE DAY
Strategy: Intraday
* USDINR pair is trading above down ward sloping trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 73.20 level should be taken as buying opportunity targeting 73.65 – 73.80 levels on higher side.
* For Intraday session, it has support at 73.20 – 73.00 levels whereas resistance is placed at 73.65 – 73.80 levels
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