The USD/INR futures pair has support at 82.40 levels whereas resistance is placed at 82.90 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 82.40 levels whereas resistance is placed at 82.90 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 82.20 levels whereas resistance is placed at 82.80 levels. The pair is expected to trade range bound until either side level is breached.
* The GBP/INR futures pair has support at 95.20 levels whereas resistance is placed at 95.60 levels. The pair is expected to find support at lower levels and trade firm above 95.60 level up to 95.80 and 96.00 levels.
* The JPY/INR futures pair has support at 56.00 levels whereas resistance is placed at 56.50 levels. The pair is expected to find resistance at higher levels and trade weak below 56.00 level up to 55.80 and 55.60 levels.
Strategy: Intraday
* GBPINR pair traded with negative bias but managed to closed above upward slopping support trend line in the last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 95.20 level should be taken as buying opportunity targeting 95.60 – 95.80 levels on higher side
* For Intraday session, it has support at 95.20 – 95.00 levels whereas resistance is placed at 95.60 – 95.80 levels
(Daily CHART)
GBPINR (DAILY CHART)
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