The USD/INR futures pair has support at 83.10 levels - Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.10 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 88.80 levels whereas resistance is placed at 89.20 levels. The pair is expected to find support at lower level and trade firm above 89.20 level up to 89.30 and 89.40 levels
* The GBP/INR futures pair has support at 102.00 levels whereas resistance is placed at 102.40 levels. The pair is expected to find support at lower level and trade firm above 102.40 level up to 102.50 and 102.60 levels
* The JPY/INR futures pair has support at 55.40 levels whereas resistance is placed at 55.70 levels. The pair is expected to find resistance at higher level and trade weak below 55.40 level up to 55.30 and 55.20 levels
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with negative bias in the last trading session; but prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 102.00 level should be taken as buying opportunity targeting 102.40 – 102.50 levels on higher side
* For Intraday session, it has support at 102.00 – 101.90 levels whereas resistance is placed at 102.40 – 102.50 levels
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