The USD/INR futures pair has support at 81.90 levels whereas resistance is placed at 82.30 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 81.90 levels whereas resistance is placed at 82.30 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 89.80 levels whereas resistance is placed at 90.20 levels. The pair is expected to find resistance at higher level and trade weak below 89.80 level up to 89.60 and 89.40 levels
* The GBP/INR futures pair has support at 104.20 levels whereas resistance is placed at 104.60 levels. The pair is expected to find resistance at higher level and trade weak below 104.20 level up to 104.00 and 103.80 levels
* The JPY/INR futures pair has support at 57.30 levels whereas resistance is placed at 57.80 levels. The pair is expected to find resistance at higher level and trade weak below 57.30 level up to 57.10 and 56.90 levels
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with positive bias in the last trading session; but prices are trading below downward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 104.60 level should be taken as selling opportunity targeting 104.20 – 104.00 levels on lower side
* For Intraday session, it has support at 104.20 – 104.00 levels whereas resistance is placed at 104.60 – 104.80 levels
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