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Published on 28/05/2019 1:23:23 PM | Source: Reliance Securities Ltd

EURINR has been moving in narrow range from last 6 trading session - Reliance Securities

Posted in Currency Report| #Currency Tips #Reliance Securities Ltd

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EURINR has been moving in narrow range from last 6 trading sessions and it will be important to see where breakout takes place.

The above daily chart shows that post breaking above the red channel resistance, prices have been intact in upward moving channels as per which breakout should take place on upside.

Close above 78.10 level will indicate that upside rally has started towards 78.90-79.00 levels.

As per Bollinger Bands also, close above middle line can start rally towards upper Bands.

On downside 77.40-77.20 looks crucial support whereas any move above 78.10 will take prices towards 78.90-79.00 levels

 

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