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Published on 11/01/2018 10:15:20 AM | Source: Choice Broking Pvt Ltd

EURINR has found resistance at the upper side of the symmetrical channel - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR price had ended with a gain for the second consecutive sessions confirming the possibility of the reversal .

On the lower end price found support at the lower Bollinger band.

Furthermore, Momentum indicator RSI (14) found support at the oversold zone and reversing.

On the above technical studies & parameter, we are expecting correction in the price towards 64.30.

JPYINR

Technical View:

JPYINR price has moved above range-bound pattern which suggests bullish reversal.

In addition, price has reversed from the lower band of the of the channel.

Furthermore, Momentum indicator RSI (14) found support at the oversold zone and reversing.

On the above technical studies & parameter, we are expecting recovery in the price towards 57.20.

GBPINR

Technical View:

On the daily chart GBPINR has found support at the lower band of the rising channel.

Price has moved above the middle Bollinger band.

Moreover, RSI (14) is in bullish crossover.

As per the above technical structure, we are expecting bullish move in the pair towards 87.10 levels.

EURINR

Technical View:

On the daily chart EURINR has found resistance at the upper side of the symmetrical channel.

Price slipped below the middle Bollinger band which again suggests waning bullish trend for the near term.

Moreover, RSI (14) has shown negative crossover in daily charts.

Based on the above technical studies or indicator, we expect bearish movement in the prices towards 75.60 levels.

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