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Home » Currency market is stuck in a range, no new developments in the market… What next for today?
Forex

Currency market is stuck in a range, no new developments in the market… What next for today?

Currency Pairs

 

 

Technical outlook of Major Currency Market update (July 2020)

 

USDINR

Support is 75.50 Resistance is 75.90.

Break and close above 75.90 will take it to 76.30—76.70 levels else could touch its support level of 75.50 levels.

We can go for fresh selling only on a close below 75.50.

Trade with levels only.

 

Dollar Index

DX has its major support at 97.20 and resistance is seen at 97.60.

A break and close below 97.20 will see a downside move till 96.80 —96.40 in the days to come.

We can go for fresh buying on a close above 97.60.

Trade with levels only.

 

EURINR

It has its major support at 84.70 and resistance is seen at 85.20

Break and close above 85.20 will see an upside move till 85.60—86.00 levels in the days to come.

We can go for fresh selling on a close below 84.70.

Trade with levels only.

 

EURUSD

EURUSD is trading near its support level and is trading in a wide range.

It has major support at 1.11900 and the immediate resistance is seen at 1.12900.

Break and sustain above 1.12900 will take it to 1.13800—1.14700 levels or else it can touch its support level of 1.11900 again.

Buy it on dips!

Trade with levels only.

 

USDCAD

USDCAD turned extremely weak in the previous trading session and crashed.

Major resistance at 1.36200 and support at 1.3550.

A break and close below 1.35550 will see a downside move till 1.34850—-1.34300.

Sell it on rise!

Trade with levels only.

 

EURGBP

EURGBP crashed from higher levels.

Immediate resistance at 0.91100 and major support at 0.90550.

If it will manage to break and sustain below its support level, then we can see 0.89900—0.89450 levels soon.

Sell it on rise!

Trade with levels only.

 

Read our previous Major Currency pairs update Click here!

 

More currency pairs technical levels will update on our Telegram Channel and on our WhatsApp broadcast.

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