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 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 level and trade weak below 104.80 level up to 104.70 and 104.60 levels
* The JPY/INR futures pair has support at 57.40 levels whereas resistance is placed at 57.80 levels The pair is expected to find support at lower level and trade firm above 57.80 level up to 57.90 and 58.00 levels
CHART OF THE DAY
JPYINR (DAILY CHART)
Strategy: Intraday
* JPYINR 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 57.40 level should be taken as buying opportunity targeting 57.80 – 57.90 levels on higher side
* For Intraday session, it has support at 57.40 – 57.30 levels whereas resistance is placed at 57.80 – 57.90 levels
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