For Intraday session, GBPINR has support at 93.40 - 93.20 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 82.80 levels whereas resistance is placed at 83.20 levels. The pair is expected to find resistance at higher levels and trade weak below 82.80 level up to 82.60 and 82.40 levels.
* The EUR/INR futures pair has support at 80.80 levels whereas resistance is placed at 81.40 levels. The pair is expected to trade range bound until either side level is breached.
* The GBP/INR futures pair has support at 93.40 levels whereas resistance is placed at 94.00 levels. The pair is expected to find resistance at higher levels and trade weak below 93.40 level up to 93.20 and 93.00 levels.
* The JPY/INR futures pair has support at 56.00 levels whereas resistance is placed at 56.50 levels. The pair is expected to trade range bound until either side level is breached.
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with negative bias and managed to closed below upward slopping support trend line in the last trading session
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 94.00 level should be taken as selling opportunity targeting 93.40 – 93.20 levels on lower side
* For Intraday session, it has support at 93.40 – 93.20 levels whereas resistance is placed at 94.00 – 94.20 levels
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