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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 87.50 levels whereas resistance is placed at 87.90 levels. The pair is expected to find support at lower level and trade firm above 87.90 level up to 88.00 and 88.10 levels

* The GBP/INR futures pair has support at 101.00 levels whereas resistance is placed at 101.50 levels. The pair is expected to range bound until either side level is breached

* The JPY/INR futures pair has support at 56.00 levels whereas resistance is placed at 56.40 levels. The pair is expected to find support at lower level and trade firm above 56.40 level up to 56.50 and 56.60 levels

CHART OF THE DAY

EURINR (DAILY CHART)

Strategy: Intraday

* EURINR pair traded with positive bias in the last trading session; but prices are trading below downward trend line but made a bullish engulfing candle.

* The pair is likely to trade with positive bias and any pullback near immediate support of 87.50 level should be taken as buying opportunity targeting 87.90 – 88.10 levels on higher side

* For Intraday session, it has support at 87.50 – 87.40 levels whereas resistance is placed at 87.90 – 88.00 levels

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