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Home » Rise in the prices of crude drove the currency weaker. Major Currency pairs technical levels.
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Rise in the prices of crude drove the currency weaker. Major Currency pairs technical levels.

Currency

 

 

Oil prices rose on Wednesday after a sharp drop in U.S. crude inventories, with the market waiting for more direction from a meeting later in the day on the future level of production by OPEC and its allies, which weighed down on the domestic currency (Source: Money Control)

 

 

Technical outlook Major Currency Pairs (July 2020)

 

USDINR

Support is 75.10 Resistance is 75.50.

Break and close above 75.50 will take it to 75.90—76.30 levels else could touch its support level of 75.10 levels.

We can go for fresh selling on a close below 75.10.

Trade with levels only.

 

Dollar Index

DX has its major support at 96.00 and resistance is seen at 96.40.

A break and close below 96.00 will see a downside move till 95.60 —95.20 in the days to come.

We can go for fresh buying on a close above 96.40

Trade with levels only.

 

JPYINR

It has its major support at 70.20 and resistance is seen at 70.50.

Break and close above 70.50 will see an upside move till 70.80—71.10 levels in the days to come.

Buy it on dips!

Trade with levels only.

 

EURUSD

EURUSD took a minor correction from the top.

Immediate resistance at 1.14500 while major support at 1.13850

Break and sustain above 1.14500 it will take it to 1.15350—1.15800 levels or else it can touch its support level of 1.13800 again.

We can go for fresh selling on a close below 1.13800.

Trade with levels only.

 

USDJPY

USDJPY is in a positive trend.

Immediate resistance at 107.100 while major support at 106.650

A break and close below its support will see a downside move till 106.200—-105.850.

Fresh buying can be seen on a close above 107.100.

Trade with levels only.

 

EURGBP

EURGBP bounced back after a correction recently.

Immediate resistance at 0.90850 while major support at 0.90400

If it will manage to break and sustain above its resistance level, then we can see 0.91200—0.91550 levels soon.

We can go for fresh selling below 0.90400.

Trade with levels only.

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