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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 82.30 levels whereas resistance is placed at 82.80 levels. The pair is expected to trade range bound until either side level is breached.

* The EUR/INR futures pair has support at 80.00 levels whereas resistance is placed at 80.50 levels. The pair is expected to trade range bound until either side level is breached.

* The GBP/INR futures pair has support at 91.00 levels whereas resistance is placed at 91.70 levels. The pair is expected to trade range bound until either side level is breached.

* The JPY/INR futures pair has support at 56.70 levels whereas resistance is placed at 57.20 levels. The pair is expected to find resistance at higher levels and trade weak below 56.70 level up to 56.50 and 56.30 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 57.20 level should be taken as selling opportunity targeting 56.70 – 56.50 levels on lower side

* For Intraday session, it has support at 56.70 – 56.50 levels whereas resistance is placed at 57.20 – 57.40 levels

CHART OF THE DAY

JPYINR (DAILY CHART)

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