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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 83.00 levels whereas resistance is placed at 83.30 levels. The pair is expected to find support at lower level and trade firm above 83.30 level up to 83.40 and 83.50 levels

* The EUR/INR futures pair has support at 90.80 levels whereas resistance is placed at 91.30 levels. The pair is expected to find resistance at higher level and trade weak below 90.80 level up to 90.70 and 90.60 levels

* The GBP/INR futures pair has support at 105.30 levels whereas resistance is placed at 105.80 levels. The pair is expected to range bound until either side level is breached

* The JPY/INR futures pair has support at 57.20 levels whereas resistance is placed at 57.70 levels. The pair is expected to find resistance at higher level and trade weak below 57.20 level up to 57.00 and 56.80 levels

CHART OF THE DAY

JPYINR (DAILY CHART)

Strategy: Intraday

* JPYINR pair traded with negative bias in the last trading session; and prices are trading below upward trend line.

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 57.80 level should be taken as selling opportunity targeting 57.20 –57.00 levels on lower side

* For Intraday session, it has support at 57.20 – 57.00 levels whereas resistance is placed at 57.70 – 57.90 levels

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