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Home » Rupee steady as the clinical trials of vaccine begin. Major currency pairs technical levels.
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Rupee steady as the clinical trials of vaccine begin. Major currency pairs technical levels.

Indian Rupee

 

The rupee appreciated 14 paise to 75.28 against the US dollar in early trade on Wednesday tracking weakness in the greenback and gains in the domestic equity market. The Indian Council of Medical Research (ICMR) on Tuesday said human clinical trials for a potential vaccine for COVID-19 had been initiated in the country with approximately 1,000 volunteers participating in the exercise for each of the two indigenously developed vaccine candidates. (Source: Republic World)

Technical outlook: (July 2020)

 

Rupee and other major currency pairs technical levels for today

USDINR

Support is 75.30 Resistance is 75.70.

USDINR Break and close above 75.70 will take it to 76.10—76.50 levels else could touch its support level of 75.30 levels.

Buy it on dips!

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.

Sell it on rise!

Trade with levels only.

 

GBPINR

It has its major support at 94.40 and resistance is seen at 95.40.

Break and close above 95.40 will see an upside move till 96.20—96.60 levels in the days to come.

Buy it on dips!

Trade with levels only.

 

EURUSD

EURUSD bounced back from its support.

Immediate resistance is at 1.14250 while major support at 1.13600

Break and sustain above 1.14250 it will take it to 1.14800—1.15350 levels or else it can touch its support level of 1.13600 again.

But it on dips!

Trade with levels only.

 

NZDUSD

USDJPY is in a positive trend.

Immediate resistance is at 107.450 while support at 107.100

A break and close below its support will see a downside move till 106.800—-106.550.

Above 107.450 we can initiate fresh buying in it.

Trade with levels only.

 

GBPJPY

GBPJPY bounced back after a correction recently.

Immediate resistance is at 135.000 while major support at 133.900

If it will manage to break and sustain above its resistance level, then we can see 135.900—136.500 levels soon.

We can go for fresh selling below 133.900.

Trade with levels only.

More will update on our Telegram channel as well as on WhatsApp.

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