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Home » High volatility in the currency segment. Major Currency Pairs technical levels for the day.
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High volatility in the currency segment. Major Currency Pairs technical levels for the day.

Currency USDINR

High volatility in the currency segment

USDINR and other major currency pairs are engaging in highly volatile sessions these days due to uncertainties in the market. The outbreak and spread of Coronavirus have brought a lot of concerns for the economies all over the world. Only a slightly positive domestic equity market is restricting the fall in our domestic unit.

 

Technical outlook of Major Currency pairs (May 2020)

 

 

Dollar Index

The dollar index has its support at 99.30 and resistance is seen at 99.60.

Break and sustain above 99.60 will take it to 99.90—100.10 levels or else it can touch its support level of 99.30 again.

Buy it on dips!

Trade with levels only.

 

JPYINR

Support is 70.00 Resistance is 70.50.

Break and sustain above 70.50 will take it to 70.90—71.30 levels or it will come down to touch its support level of 70.00.

Fresh selling can be done on a close below 70.00

Trade with levels only.

 

EURINR

Support 82.50 Resistance is 83.10

Break and sustain above 83.10 will take it to 83.60—84.00 levels else could touch its resistance level of 82.50 mark.

If it will manage to break and give a close below 82.50, we can go for fresh selling.

Trade with levels only.

 

USDINR

Support is 75.40 Resistance is 75.90.

Break and sustain below 75.40 will take it to 75.00—74.60 levels else could touch its resistance level of 75.90 levels.

Sell it on the rise!

Trade with levels only.

 

GBPINR

Support is 92.20 Resistance is 93.00.

Break and sustain below 92.20 will take it to 91.70—91.30 levels else could touch its resistance level of 93.00 levels.

Fresh buying can be done on a close above 93.00.

Trade with levels only.

 

EURUSD

It has major support at 1.0920 and resistance is 1.0960.

Break and sustain below 1.0920 will take it to 1.0890—1.0850 levels or else it can touch its resistance level of 1.0960 again.

Above 1.0960 we can do fresh buying in it.

Trade with levels only.

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