GBPINR pair traded with positive bias in the last trading session - Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.30 levels whereas resistance is placed at 83.60 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 91.10 levels whereas resistance is placed at 91.70 levels. The pair is expected to find support at higher level and trade firm above 91.70 level up to 91.90 and 92.10 levels
* The GBP/INR futures pair has support at 105.10 levels whereas resistance is placed at 105.50 levels. The pair is expected to find support at higher level and trade firm above 105.50 level up to 105.70 and 105.90 levels
* The JPY/INR futures pair has support at 56.30 levels whereas resistance is placed at 56.60 levels. The pair is expected to find support at higher level and trade firm above 56.60 level up to 56.70 and 56.80 levels
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with positive bias in the last trading session; and prices are trading above upward trend line
* The pair is likely to trade with positive bias and any pullback near immediate support of 105.10 level should be taken as buying opportunity targeting 105.50 – 105.70 levels on higher side
* For Intraday session, it has support at 105.10 – 104.90 levels whereas resistance is placed at 105.50 – 105.70 levels
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