For Intraday session, it has support at 101.30 - 101.20 levels whereas resistance is placed at 101.80 - 101.90 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.10 levels whereas resistance is placed at 83.50 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 87.70 levels whereas resistance is placed at 88.10 levels. The pair is expected to find support at lower level and trade firm above 88.10 level up to 88.20 and 88.30 levels
* The GBP/INR futures pair has support at 101.30 levels whereas resistance is placed at 101.80 levels. The pair is expected to find support at lower level and trade firm above 101.80 level up to 101.90 and 102.00 levels
* The JPY/INR futures pair has support at 55.80 levels whereas resistance is placed at 56.20 levels. The pair is expected to find support at lower level and trade firm above 56.20 level up to 56.30 and 56.40 levels
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with negative bias in the last trading session; but prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 101.30 level should be taken as buying opportunity targeting 101.80 – 101.90 levels on higher side
* For Intraday session, it has support at 101.30 – 101.20 levels whereas resistance is placed at 101.80 – 101.90 levels
