The GBP/INR futures pair has support at 102.40 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 75.00 levels whereas resistance is placed at 75.30 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 86.80 levels whereas resistance is placed at 87.20 levels. The pair is expected to trade weak below 86.80 levels up to 86.60 and 86.40 levels.
* The GBP/INR futures pair has support at 102.40 levels whereas resistance is placed at 102.90 levels. The pair is expected to trade weak below 102.40 levels up to 102.20 and 102.00 levels.
* The JPY/INR future pair has support at 65.70 levels whereas resistance is placed at 66.00 levels. The pair is expected to trade weak below 65.70 levels up to 65.50 and 65.35 levels
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with negative bias and managed to sustain below downward trend line in the last trading session.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 102.90 level should be taken as selling opportunity targeting 102.50 – 102.30 levels on lower side
* For Intraday session, it has support at 102.50 – 102.30 levels whereas resistance is placed at 102.90 – 103.10 levels
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