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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 82.90 levels whereas resistance is placed at 83.30 levels. The pair is expected to find support at lower levels and trade firm above 83.30 level up to 83.50 and 83.70 levels.

* The EUR/INR futures pair has support at 81.00 levels whereas resistance is placed at 81.60 levels. The pair is expected to trade range bound until either side level is breached.

* The GBP/INR futures pair has support at 93.20 levels whereas resistance is placed at 93.70 levels. The pair is expected to find resistance at higher levels and trade weak below 93.20 level up to 93.00 and 92.80 levels.

* The JPY/INR futures pair has support at 55.50 levels whereas resistance is placed at 55.90 levels. The pair is expected to find resistance at higher levels and trade weak below 55.50 level up to 55.30 and 55.10 levels.

Strategy: Intraday

* USDINR pair traded with positive bias and managed to closed above downward slopping resistance trend line in the last trading session

* The pair is likely to trade with positive bias and any pullback near immediate support of 82.90 level should be taken as buying opportunity targeting 83.30 – 83.50 levels on higher side

* For Intraday session, it has support at 82.90 – 82.70 levels whereas resistance is placed at 83.30 – 83.50 levels

CHART OF THE DAY

USDINR (DAILY CHART)

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