The USD/INR futures pair has support at 77.50 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 77.50 levels whereas resistance is placed at 77.80 levels. The pair is expected to find support at lower levels and trade firm above 77.80 level up to 78.00 and 78.20 levels.
* The EUR/INR futures pair has support at 81.50 levels whereas resistance is placed at 81.90 levels. The pair is expected to trade range bound until either side level is breached.
* The GBP/INR futures pair has support at 96.20 levels whereas resistance is placed at 96.80 levels. The pair is expected to trade range bound until either side level is breached.
* The JPY/INR futures pair has support at 60.00 levels whereas resistance is placed at 60.40 levels. The pair is expected to find support at lower levels and trade firm above 60.40 level up to 60.60 and 60.80 levels.
CHART OF THE DAY
Strategy: Intraday
* USDINR pair traded with positive bias and managed to closed above upward sloping trending line in the last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 77.50 level should be taken as buying opportunity targeting 77.80 – 78.00 levels on higher side
* For Intraday session, it has support at 77.50 –77.30 levels whereas resistance is placed at 77.80 – 78.00 levels
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