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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 80.00 levels whereas resistance is placed at 80.30 levels. The pair is expected to trade range bound until either side level is breached.

* The EUR/INR futures pair has support at 79.90 levels whereas resistance is placed at 80.40 levels. The pair is expected to find support at lower levels and trade firm above 80.40 level up to 80.60 and 80.80 levels.

* The GBP/INR futures pair has support at 93.50 levels whereas resistance is placed at 94.10 levels. The pair is expected to find support at lower levels and trade firm above 95.10 level up to 95.30 and 95.50 levels.

* The JPY/INR futures pair has support at 57.80 levels whereas resistance is placed at 58.20 levels. The pair is expected to find resistance at higher levels and trade weak below 57.80 level up to 57.60 and 57.40 levels.

Strategy: Intraday

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

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 58.20 level should be taken as selling opportunity targeting 57.80 – 57.60 levels on lower side

* For Intraday session, it has support at 57.80 – 57.60 levels whereas resistance is placed at 58.20- 58.40 levels

JPYINR (Daily CHART)

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