The USD/INR futures pair has support at 74.80 levels whereas resistance is placed at 75.30 levels - Monarch Networth Capital
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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 range bound until either side level is breached
* The EUR/INR futures pair has support at 83.60 levels whereas resistance is placed at 84.00 levels. The pair is expected to find support at lower levels and trade firm above 84.00 level up to 84.20 and 84.40 levels
* The GBP/INR futures pair has support at 100.50 levels whereas resistance is placed at 100.90 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 64.70 levels whereas resistance is placed at 65.30 levels. The pair is expected to find resistance at higher levels and trade weak below 64.70 level up to 64.50 and 64.35 levels
CHART OF THE DAY
Strategy: Intraday
* JPYINR pair traded with negative bias and managed to closed below downward trending line in the last trading session
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 65.30 level should be taken as selling opportunity targeting 64.70 – 64.50 levels on lower side
* For Intraday session, it has support at 64.70 – 64.50 levels whereas resistance is placed at 65.30 – 65.50 levels
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