EURINR pair is trading below downward sloping trend line - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.00 levels whereas resistance is placed at 74.50 levels. The pair is expected to find support at lower levels and trade firm above 74.30 level up to 74.50 and 74.65 levels
* The EUR/INR futures pair has support at 88.30 levels whereas resistance is placed at 88.70 levels. The pair is expected to find resistance at higher levels and trade weak below 88.40 level up to 88.20 and 88.05 levels
* The GBP/INR futures pair has support at 103.30 levels whereas resistance is placed at 103.80 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 66.80 levels whereas resistance is placed at 67.15 levels. The pair is expected to trade higher above 67.15 level up to 67.35 and 67.50 levels
CHART OF THE DAY
Strategy: Intraday
* EURINR pair is trading below downward sloping trend line
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 88.70 level should be taken as selling opportunity targeting 88.20 – 88.05 levels on lower side
* For Intraday session, it has support at 88.20 – 88.05 levels whereas resistance is placed at 88.70 – 88.85 levels
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