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Home » Major Currency pairs update- Vague interpretation from the Fed meet kept dollar index flat.
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Major Currency pairs update- Vague interpretation from the Fed meet kept dollar index flat.

Major Currency Pairs

 

 

Major Currency pairs update

Fed meet gave investors few clues on whether the Fed will adopt a more dovish policy framework in the months ahead as investors are expecting that the policy would adopt an average inflation target and seek to push inflation above 2%, the minutes were vague regarding the issue.

 

Technical outlook on Dollar Index and other Major Currency pairs 

 

USDINR

Support is 74.85 and Resistance is 75.10.

Break and sustain above 75.10 will take it to 75.40—75.50 or else it could test its support again

Fresh selling will do below 74.85.

Trade with levels only.

 

Dollar Index

DX has its major support at 92.70 and resistance is seen at 93.15.

Break and sustain above 93.15 will see upside move till 93.60—93.80 levels or else it could test its support again.

Fresh selling will do below 92.70.

Trade with levels only.

 

EURINR

It has its major support at 88.60 and resistance is seen at 89.20.

Break and sustain below 88.60 will take it to 88.00—87.80 levels or else it could test its resistance again.

Fresh buying will do above 89.20 levels.

Trade with levels only.

 

GBPINR

Support at 97.90 and resistance at 98.65.

Break and sustain below 97.90 will take it to 97.20—97.00 levels or else it could test its resistance again.

Fresh buying will do above 98.65 levels.

Trade with the levels only.

 

JPYINR

It has its major support at 70.60 and resistance is seen at 71.00.

Break and sustain below70.60 will take it to 70.20—70.00 levels or else it could test it resistance again.

Fresh buying will do above 71.00 levels.

Trade with the levels only.

 

Read our previous update on major currency pairs. Click here!

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