The USD/INR futures pair has support at 77.60 levels whereas resistance is placed at 77.90 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 77.60 levels whereas resistance is placed at 77.90 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 83.60 levels whereas resistance is placed at 84.00 levels. The pair is expected to find resistance at higher levels and trade weak below 83.60 level up to 83.40 and 83.20 levels.
* The GBP/INR futures pair has support at 98.20 levels whereas resistance is placed at 98.50 levels. The pair is expected to find resistance at higher levels and trade weak below 98.20 level up to 98.00 and 97.80 levels.
* The JPY/INR futures pair has support at 61.00 levels whereas resistance is placed at 61.30 levels. The pair is expected to find resistance at higher levels and trade weak below 61.00 level up to 60.80 and 60.60 levels.
CHART OF THE DAY
Strategy: Intraday
* JPYINR pair traded with negative bias and managed to closed below upward sloping trending line in the last trading session
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 61.30 level should be taken as selling opportunity targeting 61.00 – 60.80 levels on lower side
* For Intraday session, it has support at 61.00 –60.80 levels whereas resistance is placed at 61.30 – 61.50 levels
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