The USD/INR futures pair has support at 82.90 levels whereas resistance is placed at 83.20 levels - Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK:
* The USD/INR futures pair has support at 82.90 levels whereas resistance is placed at 83.20 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 89.00 levels whereas resistance is placed at 89.40 levels. The pair is expected to find support at lower and trade firm above 89.40 level up to 89.50 and 89.60 levels
* The GBP/INR futures pair has support at 104.10 levels whereas resistance is placed at 104.40 levels. The pair is expected to find support at lower and trade firm above 104.40 level up to 104.50 and 104.60 levels
* The JPY/INR futures pair has support at 55.30 levels whereas resistance is placed at 55.70 levels. The pair is expected to find resistance at higher and trade weak below 55.30 level up to 55.20 and 55.10 levels
CHART OF THE DAY:
JPYINR (DAILY CHART):
Strategy: Intraday:
* JPYINR pair traded with positive bias in the last trading session; but prices are trading below downward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 55.70 level should be taken as selling opportunity targeting 55.30 – 55.20 levels on lower side
* For Intraday session, it has support at 55.20 – 55.20 levels whereas resistance is placed at 55.70 –55.80 levels
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