The USD/INR futures pair has support at 83.10 levels whereas resistance is placed at 83.40 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 90.50 levels whereas resistance is placed at 90.80 levels. The pair is expected to find resistance at higher level and trade weak below 90.50 level up to 90.30 and 90.10 levels
* The GBP/INR futures pair has support at 105.60 levels whereas resistance is placed at 106.00 levels. The pair is expected to find resistance at higher level and trade weak below 105.60 level up to 105.40 and 105.20 levels
* The JPY/INR futures pair has support at 56.60 levels whereas resistance is placed at 56.90 levels. The pair is expected to find resistance at higher level and trade weak below 56.60 level up to 56.50 and 56.40 levels
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 90.80 level should be taken as selling opportunity targeting 90.50 – 90.30 levels on lower side
* For Intraday session, it has support at 90.50 – 90.30 levels whereas resistance is placed at 90.80 – 91.00 levels
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