Published on 18/05/2017 11:02:09 AM | Source: Tradebulls Securities Pvt Ltd
Buy EURINR around 71.20 Target 71.70 Stop loss 70.90 - Tradebulls Sec
USD/INR FUTURE VIEW
USD/INR futures witnessed negative opening and traded with bearish sentiments throughout the session due to selling pressure from traders. Technically, It managed to settle above downward sloping trend line which indicates strength in firm trend. Momentum Indicator RSI for the 14-day period is poised at 32.30 on Daily charts showing sign of recovery. USD/INR could remain volatile & a breach of 64.30 could determine the trend for the day. On the higher side resistance seen at 64.45 levels while the 64.05 level remains a key support area for the day. The overall trend for USD/INR futures likely to remain volatile for the intraday session due to short covering. Traders are advised to avoid long until 64.40 levels breached.
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