The USD/INR futures pair has support at 83.20 levels - Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.20 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 88.50 levels whereas resistance is placed at 89.00 levels. The pair is expected to find support at lower level and trade firm above 89.00 level up to 89.20 and 89.40 levels
* The GBP/INR futures pair has support at 101.70 levels whereas resistance is placed at 102.10 levels. The pair is expected to find support at lower level and trade firm above 102.10 level up to 102.30 and 102.50 levels
*The JPY/INR futures pair has support at 55.40 levels whereas resistance is placed at 55.90 levels. The pair is expected to find support at lower level and trade firm above 55.90 level up to 56.10 and 56.30 levels
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with positive bias in the last trading session; and prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 101.70 level should be taken as buying opportunity targeting 102.10 – 102.30 levels on higher side
* For Intraday session, it has support at 101.70 – 101.50 levels whereas resistance is placed at 102.10 – 102.30 levels
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