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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 74.20 levels whereas resistance is placed at 74.70 levels. The pair is expected to find resistance at higher levels and trade weak below 74.10 level up to 73.95 and 73.80 levels

* The EUR/INR futures pair has support at 88.10 levels whereas resistance is placed at 88.50 levels. The pair is expected to find support at lower levels and trade firm above 88.30 level up to 88.50 and 88.70 levels

* The GBP/INR futures pair has support at 103.30 levels whereas resistance is placed at 103.80 levels. The pair is expected to range bound until either side level is breached

* The JPY/INR futures pair has support at 68.00 levels whereas resistance is placed at 68.40 levels. The pair is expected to find support at lower levels and trade firm above 68.20 level up to 68.40 and 68.55 levels

CHART OF THE DAY

USDINR (DAILY CHART)

Strategy: Intraday

* USDINR pair traded with negative bias and managed to sustain below downward sloping trend line in last trading session

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 74.50 level should be taken as selling opportunity targeting 74.10 – 73.95 levels on lower side

* For Intraday session, it has support at 74.10 – 73.95 levels whereas resistance is placed at 74.50 – 74.65 levels

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