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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 81.50 levels whereas resistance is placed at 81.90 levels. The pair is expected to find support at lower levels and trade firm above 81.90 level up to 82.10 and 82.30 levels.

* The EUR/INR futures pair has support at 78.50 levels whereas resistance is placed at 79.10 levels. The pair is expected to find resistance at higher levels and trade weak below 78.50 level up to 78.30 and 78.10 levels.

* The GBP/INR futures pair has support at 87.50 levels whereas resistance is placed at 88.10 levels. The pair is expected to find resistance at higher levels and trade weak below 87.50 level up to 87.30 and 87.10 levels.

* The JPY/INR futures pair has support at 56.50 levels whereas resistance is placed at 57.00 levels. The pair is expected to find resistance at higher levels and trade weak below 56.50 level up to 56.30 and 56.10 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 57.00 level should be taken as selling opportunity targeting 56.50 – 56.30 levels on lower side

* For Intraday session, it has support at 56.50 – 56.30 levels whereas resistance is placed at 57.00- 57.20 levels

JPYINR (Daily CHART)

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