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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 87.80 levels whereas resistance is placed at 88.20 levels. The pair is expected to find resistance at higher level and trade weak below 87.80 level up to 87.70 and 87.60 levels

* The GBP/INR futures pair has support at 101.40 levels whereas resistance is placed at 101.80 levels. The pair is expected to find resistance at higher level and trade weak below 101.40 level up to 101.30 and 101.20 levels

* The JPY/INR futures pair has support at 55.50 levels whereas resistance is placed at 56.00 levels. The pair is expected to range bound until either side level is breached

CHART OF THE DAY

GBPINR (DAILY CHART)

 Strategy: Intraday

* GBPINR 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 101.80 level should be taken as selling opportunity targeting 101.40 – 101.30 levels on lower side

* For Intraday session, it has support at 101.40 – 101.30 levels whereas resistance is placed at 101.80 – 101.90 levels

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