The USD/INR futures pair has support at 83.00 levels whereas resistance is placed at 83.40 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.00 levels whereas resistance is placed at 83.40 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 90.90 levels whereas resistance is placed at 91.30 levels. The pair is expected to find resistance at higher level and trade weak below 90.90 level up to 90.80 and 90.70 levels
* The GBP/INR futures pair has support at 105.50 levels whereas resistance is placed at 105.90 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 57.80 levels whereas resistance is placed at 58.20 levels. The pair is expected to find resistance at higher level and trade weak below 57.80 level up to 57.70 and 57.60 levels
Strategy: Intraday
* JPINR pair traded with positive bias in the last trading session; but prices are trading below upward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 58.20 level should be taken as selling opportunity targeting 57.80 – 57.60 levels on lower side
* For Intraday session, it has support at 57.80 – 57.70 levels whereas resistance is placed at 58.20 – 58.30 levels
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