The USD/INR futures pair has support at 83.20 levels whereas resistance is placed at 83.60 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.20 levels whereas resistance is placed at 83.60 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 89.70 levels whereas resistance is placed at 90.20 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 104.80 levels whereas resistance is placed at 105.20 levels. The pair is expected to find resistance at higher and trade weak below 104.80 level up to 104.70 and 104.60 levels
* The JPY/INR futures pair has support at 55.10 levels whereas resistance is placed at 55.50 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 negative bias in the last trading session; and prices are trading below upward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 104.80 level should be taken as selling opportunity targeting 104.70 – 104.60 levels on lower side
* For Intraday session, it has support at 104.70 – 104.60 levels whereas resistance is placed at 105.20 – 105.30 levels
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