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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 74.60 levels whereas resistance is placed at 74.90 levels. The pair is expected to find support at lower levels and trade firm above 74.90 level up to 75.10 and 75.25 levels

* The EUR/INR futures pair has support at 88.00 levels whereas resistance is placed at 88.50 levels. The pair is expected to range bound until either side level is breached

* The GBP/INR futures pair has support at 102.90 levels whereas resistance is placed at 103.40 levels. The pair is expected to find resistance at higher levels and trade weak below 103.10 level up to 102.90 and 102.75 levels

* The JPY/INR futures pair has support at 67.60 levels whereas resistance is placed at 68.00 levels. The pair is expected to range bound until either side level is breached

CHART OF THE DAY

GBPINR (2 hour CHART)

Strategy: Intraday

* GBPINR pair took resistance of downward sloping trend line and settled below the same

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 103.40 level should be taken as selling opportunity targeting 102.90 – 102.75 levels on higher side

* For Intraday session, it has support at 102.90 – 102.75 levels whereas resistance is placed at 103.40 – 103.55 levels

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