The USD/INR futures pair has support at 83.10 levels whereas resistance is placed at 83.50 levels - Monarch Networth Capital
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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 88.10 levels. The pair is expected to find support at lower level and trade firm above 88.10 level up to 88.20 and 88.30 levels
* The GBP/INR futures pair has support at 100.60 levels whereas resistance is placed at 100.90 levels. The pair is expected to find support at lower level and trade firm above 100.90 level up to 101.00 and 101.10 levels
* The JPY/INR futures pair has support at 55.60 levels whereas resistance is placed at 59.00 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
EURINR (DAILY CHART)
Strategy: Intraday
* EURINR 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 87.80 level should be taken as buying opportunity targeting 88.10 – 88.20 levels on higher side
* For Intraday session, it has support at 87.80 – 87.70 levels whereas resistance is placed at 88.10 – 88.20 levels
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