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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 82.20 levels whereas resistance is placed at 82.60 levels. The pair is expected to find support at lower levels and trade firm above 82.60 level up to 82.80 and 83.00 levels.

* The EUR/INR futures pair has support at 80.70 levels whereas resistance is placed at 81.20 levels. The pair is expected to find resistance at higher levels and trade weak below 80.70 level up to 80.50 and 80.30 levels.

* The GBP/INR futures pair has support at 93.10 levels whereas resistance is placed at 93.60 levels. The pair is expected to find resistance at higher levels and trade weak below 93.10 level up to 92.90 and 92.70 levels.

* The JPY/INR futures pair has support at 56.80 levels whereas resistance is placed at 57.30 levels. The pair is expected to trade range bound until either side level is breached.

Strategy: Intraday

* USDINR pair traded with positive bias and managed to closed above downward slopping resistance line in the last trading session

* The pair is likely to trade with positive bias and any pullback near immediate support of 82.20 level should be taken as buying opportunity targeting 82.60 – 82.80 levels on higher side

* For Intraday session, it has support at 82.20 – 82.00 levels whereas resistance is placed at 82.60 – 82.80 levels

CHART OF THE DAY

USDINR (DAILY CHART)

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