The USD/INR futures pair has support at 83.30 levels whereas resistance is placed at 83.60 levels -Monarch Networth Capital Ltd
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.30 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 89.80 levels whereas resistance is placed at 90.20 levels. The pair is expected to find resistance at higher level and trade weak below 89.80 level up to 89.70 and 89.60 levels
* 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 level and trade weak below 104.80 level up to 104.70 and 104.60 levels
* The JPY/INR futures pair has support at 57.70 levels whereas resistance is placed at 58.10 levels The pair is expected to find resistance at higher level and trade weak below 57.70 level up to 57.60 and 57.50 levels
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with mild positive bias in the last trading session; but prices are trading below downward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 105.20 level should be taken as selling opportunity targeting 104.80 – 104.70 levels on seller side
* For Intraday session, it has support at 104.80 – 104.70 levels whereas resistance is placed at 105.20 – 105.30 levels
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