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Home » Renewed worries of lockdown weighing down on domestic unit. Major currency pairs technical levels.
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Renewed worries of lockdown weighing down on domestic unit. Major currency pairs technical levels.

Currency

 

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)

 

Technical outlook of Major Currency pairs (July 2020)

USDINR

Support is 75.00 Resistance is 75.40.

Break and close above 75.40 will take it to 75.80—76.20 levels else could touch its support level of 75.00 levels.

Buy it on dips!

Trade with levels only.

 

Dollar Index

DX has its major support at 96.60 and resistance is seen at 96.90.

Break and close above 96.90 will see an upside move till 97.20 —97.50 in the days to come.

Buy it on dips!

Trade with levels only.

 

JPYINR

It has its major support at 70.10 and resistance is seen at 70.50.

Break and close above 70.50 will see an upside move till 70.90—71.30 levels in the days to come.

Buy it on dips!

Trade with levels only.

 

EURUSD

EURUSD bounced back from its support.

It has major support at 1.12600 and the immediate resistance is seen at 1.13000.

Break and sustain above 1.13000 it will take it to 1.13500—1.13900 levels or else it can touch its support level of 1.12600 again.

We can go for fresh selling on a close below 1.12600

Trade with levels only.

 

EURJPY

EURGBP is looking weak on the chart.

It has its support at 120.500 and the immediate resistance is seen at 121.650.

A break and close below its support will see a downside move till 119.400—-118.500.

Sell it on rise!

Trade with levels only.

 

USDCAD

USDCAD took a reversal from the bottom.

Immediate resistance at 1.36300 and major support at 1.34900.

If it will manage to break and sustain above its resistance level, then we may see 1.37500—1.38300 levels soon.

We can go for fresh selling below 1.34900.

Trade with levels only.

 

 

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