The USD/INR futures pair has support at 74.00 levels whereas resistance is placed at 74.40 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.00 levels whereas resistance is placed at 74.40 levels. The pair is expected to range bound until either side level is breached
* 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 102.60 levels whereas resistance is placed at 103.0 levels. The pair is expected to find resistance at higher levels and trade weak below 102.60 level up to 102.45 and 102.30 levels
* The JPY/INR futures pair has support at 67.30 levels whereas resistance is placed at 67.80 levels. The pair is expected to find resistance at higher levels and trade weak below 67.30 level up to 67.10 and 66.95 levels
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair is trading below downward sloping trend line
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 103.20 level should be taken as selling opportunity targeting 102.70 – 102.55 levels on lower side
* For Intraday session, it has support at 102.70 – 102.55 levels whereas resistance is placed at 103.20 – 103.35 levels
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