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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 79.50 levels whereas resistance is placed at 80.00 levels. The pair is expected to trade range bound until either side level is breached.

* The EUR/INR futures pair has support at 79.90 levels whereas resistance is placed at 80.50 levels. The pair is expected to find resistance at higher levels and trade weak below 79.90 level up to 79.70 and 79.50 levels.

*  The GBP/INR futures pair has support at 92.20 levels whereas resistance is placed at 92.80 levels. The pair is expected to find resistance at higher levels and trade weak below 92.20 level up to 92.00 and 91.80 levels.

* The JPY/INR futures pair has support at 57.30 levels whereas resistance is placed at 57.90 levels. The pair is expected to find resistance at higher levels and trade weak below 57.30 level up to 57.10 and 57.00 levels.

Strategy: Intraday

* JPYINR pair traded with negative bias and managed to closed below downward slopping resistance line in the last trading session

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 57.90 level should be taken as selling opportunity targeting 57.30 – 57.10 levels on lower side

*  For Intraday session, it has support at 57.30 – 57.10 levels whereas resistance is placed at 57.90- 58.10 levels

JPYINR (Daily CHART)

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