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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 79.80 levels whereas resistance is placed at 80.20 levels. The pair is expected to find support at lower levels and trade firm above 80.20 level up to 80.40 and 80.60 levels.

* The EUR/INR futures pair has support at 79.00 levels whereas resistance is placed at 79.70 levels. The pair is expected to find resistance at higher levels and trade weak below 79.00 level up to 78.80 and 78.60 levels.

* The GBP/INR futures pair has support at 90.50 levels whereas resistance is placed at 91.20 levels. The pair is expected to find resistance at higher levels and trade weak below 90.50 level up to 90.30 and 90.10 levels.

* The JPY/INR futures pair has support at 55.40 levels whereas resistance is placed at 55.80 levels. The pair is expected to find resistance at higher levels and trade weak below 55.40 level up to 55.20 and 55.00 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 55.80 level should be taken as selling opportunity targeting 55.40 – 55.20 levels on lower side

* For Intraday session, it has support at 55.40 – 55.20 levels whereas resistance is placed at 55.80- 56.00 levels

JPYINR (Daily CHART)

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