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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 79.80 levels whereas resistance is placed at 80.20 levels. The pair is expected to trade range bound until either side level is breached.

* The EUR/INR futures pair has support at 79.30 levels whereas resistance is placed at 79.80 levels. The pair is expected to find resistance at higher levels and trade weak below 79.30 level up to 79.10 and 78.90 levels.

* The GBP/INR futures pair has support at 92.50 levels whereas resistance is placed at 93.00 levels. The pair is expected to find resistance at higher levels and trade weak below 92.50 level up to 92.30 and 92.10 levels.

* The JPY/INR futures pair has support at 56.30 levels whereas resistance is placed at 56.70 levels. The pair is expected to find resistance at higher levels and trade weak below 56.30 level up to 56.10 and 55.90 levels.

Strategy: Intraday

* JPYINR pair traded with negative bias and managed to closed below downward slopping resistance line in the last trading session

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 56.70 level should be taken as selling opportunity targeting 56.30 – 56.10 levels on lower side

* For Intraday session, it has support at 56.30 – 56.10 levels whereas resistance is placed at 56.70- 56.90 levels

JPYINR (Daily CHART)

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