Published on 21/05/2019 11:54:39 AM | Source: Reliance Securities Ltd

Over short term 69.35 and 70.10 are the crucial support - Reliance Securities

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

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USDINR Spot had Big Gap down opening in today's session on back of Exit Polls suggesting that Modi Government will come to power again. Pair made a Gap down opening at 69.35 which is also the low of the session and post that throughout the day prices have been moving higher.

On immediate basis, any daily close above 70.10 will close the entire Gap area and provide the first positive sign. Failure to do this will open up the downside possibilities towards 69.20 levels.

Over short term 69.35 and 70.10 are the crucial support and resistance levels whereas over medium term 69.20 and 70.55 is the broader range. Break of these levels are required to see big trending move over medium term.


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