USDINR pair manage to sustain above resistance of ascending triangle chart pattern in last trading session - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.20 levels whereas resistance is placed at 74.60 levels. The pair is expected to find support at lower levels and trade strong above 74.50 levels up to 74.60 and 74.75 levels
* The EUR/INR futures pair has support at 88.30 levels whereas resistance is placed at 88.70 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 103.00 levels whereas resistance is placed at 103.50 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 67.20 levels whereas resistance is placed at 67.50 levels. The pair is expected to find resistance at higher levels and trade weak below 67.20 level up to 67.00 and 66.85 levels
CHART OF THE DAY
Strategy: Intraday
* USDINR pair manage to sustain above resistance of ascending triangle chart pattern in last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 74.20 level should be taken as buying opportunity targeting 74.60 – 74.75 levels on higher side
* For Intraday session, it has support at 74.20 – 74.05 levels whereas resistance is placed at 74.60 – 74.75 levels
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