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Home » Decline in Equity market is capping currency gains. Major Currency pairs technical levels for today.
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Decline in Equity market is capping currency gains. Major Currency pairs technical levels for today.

Major Currency Pairs

 

A weak greenback and easing crude prices supported the Indian rupee but a decline in domestic equity markets capped the currency gains. Meanwhile, the number of coronavirus cases around the world has crossed the 10 million mark while the death toll has climbed above half a million. In India, the death toll due to COVID-19 rose to 16,475 and the number of infections rose to 5,48,318, according to the health ministry. (Source: LiveMint)

 

Technical outlook of Major Currency (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 97.25 and resistance is seen at 97.70.

A break and close below 97.25 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 97.70.

Trade with levels only.

 

GBPINR

It has its major support at 93.00 and resistance is seen at 93.70

Break and close below 93.00 will see a downside move till 92.40—91.90 levels in the days to come.

We can go for fresh buying on a close above 93.70.

Trade with levels only.

 

EURUSD

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

It has major support at 1.12200 and the immediate resistance is seen at 1.12900.

Break and sustain above 1.12900 will take it to 1.13500—1.14100 levels or else it can touch its support level of 1.12200 again.

Buy it on dips!

Trade with levels only.

 

AUDNZD

AUDNZD bounced sharply from its support levels.

Major resistance at 1.07100 while major support at around 1.06700

A break and close above 1.07100 will see an upside move till 1.07600—-1.07900.

We can go for fresh selling only on close below 1.06700.

Trade with levels only.

 

GBPJPY

GBPJPY is moving in a tight range.

Immediate resistance at 132.700 while major support at 131.700.

If it will manage to break and sustain above its resistance level, then we can see 133.800—134.500 levels soon.

We can go for fresh selling only on a close below 131.700.

Trade with levels only.

 

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

 

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