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 90.40 levels whereas resistance is placed at 90.90 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 105.70 levels whereas resistance is placed at 106.10 levels. The pair is expected to find support at lower level and trade firm above 106.10 level up to 106.20 and 106.30 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 resistance at higher level and trade weak below 56.30 level up to 56.20 and 56.10 levels
CHART OF THE DAY:
GBPINR (DAILY CHART)
Strategy: Intraday:
* GBPINR pair traded with positive bias in the last trading session; and prices are trading above downward trend line
* The pair is likely to trade with positive bias and any pullback near immediate support of 105.70 level should be taken as buying opportunity targeting 106.10 – 106.20 levels on higher side
* For Intraday session, it has support at 105.70 – 105.60 levels whereas resistance is placed at 106.10 – 106.20 levels
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