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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 74.80 levels whereas resistance is placed at 75.30 levels. The pair is expected to find support at lower levels and trade firm above 75.10 level up to 75.30 and 75.45 levels

* The EUR/INR futures pair has support at 88.10 levels whereas resistance is placed at 88.60 levels. The pair is expected to range bound until either side level is breached

* The GBP/INR futures pair has support at 102.70 levels whereas resistance is placed at 103.10 levels. The pair is expected to find resistance at higher levels and trade weak below 102.70 level up to 102.50 and 102.35 levels

* The JPY/INR futures pair has support at 68.10 levels whereas resistance is placed at 68.50 levels. The pair is expected to find support at lower levels and trade firm above 68.50 level up to 68.70 and 68.85 levels.

CHART OF THE DAY

USDINR (2 hour CHART)

Strategy: Intraday

* USDINR pair took support of downward sloping trend line and settled above the same

* The pair is likely to trade with positive bias and any pullback near immediate support of 74.80 level should be taken as buying opportunity targeting 75.20 – 75.35 levels on higher side

* For Intraday session, it has support at 74.80 – 74.65 levels whereas resistance is placed at 75.30 – 75.45 levels

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