The USD/INR futures pair has support at 82.20 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 82.20 levels whereas resistance is placed at 82.50 levels. The pair is expected to find resistance at higher level and trade weak below 82.20 level up to 82.00 and 81.80 levels.
* The EUR/INR futures pair has support at 89.30 levels whereas resistance is placed at 89.80 levels. The pair is expected to find support at lower level and trade firm above 89.80 level up to 90.20 and 90.40 levels.
* The GBP/INR futures pair has support at 101.60 levels whereas resistance is placed at 102.00 levels. The pair is expected to find support at lower level and trade firm above 102.00 level up to 102.20 and 102.40 levels.
* The JPY/INR futures pair has support at 61.80 levels whereas resistance is placed at 62.30 levels. The pair is expected to range bound until either side level is breached
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with a mild positive bias in the last trading session; and prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 101.60 level should be taken as buying opportunity targeting 102.00 – 102.20 levels on higher side
* For Intraday session, it has support at 101.60 – 101.40 levels whereas resistance is placed at 102.00 – 102.20 levels
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