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Home » Gains in equity failed to provide support to the domestic unit. Major Currency Pairs Update
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Gains in equity failed to provide support to the domestic unit. Major Currency Pairs Update

Major currencies

 

Gains in domestic equity markets and weakness in the dollar overseas offered support to the domestic currency, the rupee failed to sustain its intraday gains due to rising tensions between the US and China. Crude oil prices rose on the back of a weaker dollar, but gains were capped by concerns about rising US inventories and a persistent surge in new coronavirus cases. (Source:
NDTV)

 

Technical outlook of Major Currency pairs

USDINR

Support is 74.70 Resistance is 75.00.

Break and close above 75.00 will take it to 75.30—75.60 levels else could touch its support level of 74.70 levels.

We can go for fresh selling on a close below 74.70.

Trade with levels only.

 

Dollar Index

DX has its major support at 94.50 and resistance is seen at 95.00.

A break and close below 94.50 will see a downside move till 94.10 —93.70 in the days to come.

We can go for fresh buying on a close above 95.00.

Trade with levels only.

 

GBPINR

It has its major support at 95.00 and resistance is seen at 95.60.

Break and close above 95.60 will see an upside move till 76.20—76.60 levels in the days to come.

Buy it on dips!

Trade with levels only.

 

EURUSD

EURUSD looks positive on the chart.

It has major support at 1.15400 and the immediate resistance is seen at 1.16300.

Break and sustain above 1.16300 will take it to 1.16900—1.17500 levels or else it can touch its support level of 1.15400 again.

Buy it on dips!

Trade with levels only.

 

AUDUSD

AUDUSD unable to break its resistance level, hence slipped.

It has its support at 0.70750 and the resistance is seen at 0.71360

A break and close below its support level will see a downside move till 0.70200—-0.69600.

Fresh buying can be seen on a close above 0.71360.

Trade with levels only.

 

GBPJPY

GBPJPY looks weak on the chart.

It has its major support at 135.270 and the major resistance is seen at 136.650.

If it will manage to break and sustain below its support level, then we can see 134.300—133.600 levels soon.

We can go for fresh buying only on a close above 136.650.

Trade with levels only.

Read our yesterday’s Major Currency pairs update. Click Here!


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