GBPINR pair traded with positive bias in the last trading session - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 81.60 levels whereas resistance is placed at 82.10 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 90.30 levels whereas resistance is placed at 90.70 levels. The pair is expected to find support at lower level and trade firm above 90.70 level up to 90.90 and 91.10 levels.
* The GBP/INR futures pair has support at 102.50 levels whereas resistance is placed at 103.00 levels. The pair is expected to find support at lower level and trade firm above 103.00 level up to 103.20 and 103.40 levels.
* The JPY/INR futures pair has support at 60.80 levels whereas resistance is placed at 61.20 levels. The pair is expected to find resistance at higher and trade weak below 61.20 level up to 61.40 and 61.60 levels.
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with positive bias in the last trading session; and prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 102.50 level should be taken as buying opportunity targeting 103.00 – 103.20 levels on higher side
* For Intraday session, it has support at 102.50 – 102.30 levels whereas resistance is placed at 103.00 – 103.20 levels
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