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Home » Domestic unit supported by continuous Foreign Fund inflow. Major Currency Pairs technical levels.
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Domestic unit supported by continuous Foreign Fund inflow. Major Currency Pairs technical levels.

Domestic unit

 

Foreign fund inflows supported the rupee, factors like a strong dollar, volatile domestic equities, and rising COVID-19 cases dragged the local unit down. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 829.90 crore on Tuesday, according to provisional exchange data. (Source: Money Control)

 

Technical outlook of Major Currency pairs  (July 2020)

USDINR

Support is 74.90 Resistance is 75.30.

Break and close above 75.30 will take it to 75.70—76.00 levels else could touch its support level of 74.90 levels.

Buy it on dips!

Trade with levels only.

 

Dollar Index

DX has its major support at 96.20 and resistance is seen at 96.60.

A break and close below 96.20 will see a downside move till 95.80 —95.50 in the days to come.

Sell it on rise!

Trade with levels only.

 

GBPINR

GBPINR has resistance at 94.90 while major support at 94.60.

Break and close above 94.90 will see an upside move till 95.20—95.50 levels in the days to come.

Buy it on dips!

Trade with levels only.

 

EURUSD

EURUSD bounced back from its support.

Immediate resistance at 1.14200 and major support at 1.13300

Break and sustain above 1.14200 it will take it to 1.15100—1.16000 levels or else it can touch its support level of 1.13300 again.

Buy it on dips!

Trade with levels only.

 

EURGBP

EURGBP is looking weak on the chart.

Immediate resistance at 0.90200 and support at 089600.

A break and close below its support will see a downside move till 0.89100—-0.88700.

Fresh buying can be seen on a close above 0.90200.

Trade with levels only.

 

USDCAD

USDCAD looks continuously weak on the chart.

Immediate resistance at 1.35900 and major support at 1.34950

If it will manage to break and sustain below its support level, then we can see 1.33800—1.33100 levels soon.

Sell it on rise!

Trade with levels only.

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  • […] Indian rupee slipped in the early trade on July 10. It opened 15 paise lower at 75.14 per dollar versus Thursday close of 74.99. Oil prices dipped on Friday after steep falls in the previous session and were set for a weekly decline on worries renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere will suppress fuel demand. (Source: Money Control) […]

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