The USD/INR futures pair has support at 83.00 levels whereas resistance is placed at 83.30 levels - Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.00 levels whereas resistance is placed at 83.30 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 89.30 levels whereas resistance is placed at 89.70 levels. The pair is expected to find resistance at higher and trade weak below 89.30 level up to 89.20 and 89.10 levels
* The GBP/INR futures pair has support at 104.50 levels whereas resistance is placed at 104.90 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 56.10 levels whereas resistance is placed at 56.50 levels. The pair is expected to range bound until either side level is breached
CHART OF THE DAY
EURINR (DAILY CHART)
Strategy: Intraday
* EURINR pair traded with negative bias in the last trading session; and prices are trading below downward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 89.70 level should be taken as selling opportunity targeting 89.30 – 89.20 levels on lower side
* For Intraday session, it has support at 89.30 – 89.20 levels whereas resistance is placed at 89.70 – 89.80 levels
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