Published on 21/03/2017 9:31:01 AM | Source: Tradebulls Sec (P) Ltd
Sell EURINR around 70.50 Target 70.10 Stop loss 70.70 - Tradebulls Sec
USD/INR FUTURE VIEW
USD/INR futures traded with bearish sentiments due to selling pressure from traders in last session. It failed to recover from lower levels which indicate continuation of selling pressure in today’s session as well. Overall trend for USD/INR futures likely to remain bearish for intraday session due to selling pressure. Next important support seen at 65.25 levels. USD/INR futures likely to trade with sideways sentiments and 65.35 will be the trend deciding level for intraday session. Higher side resistance seen at 65.60 levels. Technically, USD/INR futures may witness volatile price movement at lower levels due to short covering. Applying momentum Indicator RSI for 14-day period trending at 17.68 levels indicates that it is now trading in oversold zone and short covering may come at lower levels.
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