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USDINR

Technical Observations:

? USDINR July fut. retraced back to the previous swing high, coinciding with descending trendline resistance, 82.85.

? Momentum oscillator, Relative Strength Index of 14 days heading towards overboughtzone indicating continuation of positive momentum.

? Long build-up has been seen in the week gone, as the price and open interest rise.

? We expect multiple top resistance at 83.30 to remain a big hurdle for bulls. Short-term traders can Sell USDINR July fut between 82.50-82.80 and Buy 83 CE at 7 Paise.

EURINR

Technical Observations:

? EURINR July fut has given a box pattern breakout. The pattern target comes at 91.

? It has been placed well above short-termmoving averages.

? Relative Strength Index of 14 days pierced above the centre line.

? The MACD is placed above the zero line and heading north indicating a bullish trend. ? Long build-up has been seen asthe price and open interest rise. ? Buy EURINR between 90.10 to 90.20 stop loss 89.20 Target 91.30.

GBPINR

Technical Observations:

? GBPINR July fut has extension resistance at 106.90, the 76.4% of swing adjoining 97.10, 103.70and 101.90.

? The pair is heading towards an all-time high of 107.60.

? Relative Strength Index of 14 days placed at 68 and heading higher indicating positive momentum.

? Long build-up has been seen asthe price and open interest rise.

? We remain bullish on GBPINR and expect 107 in the coming weeks. Buy GBPINR July fut at 105.50 Target 107.25 Stop Loss 104

JPYINR

Technical Observations:

? JPYINR July fut closed above 21 DEMA, considered as a first sign of reversal.

? Relative Strength Index of 14 days exited from the oversold zone and heading higher indicating a positivemomentum.

? MACD has given a positive cross-over to the MACD average and moving towards a zero line.

? Derivative data indicating short covering in the week gone as price rises while the open interest declined.

? Buy JPYINR above 58.25 Target 59.70 stop loss 57.30.

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