NSE USDINR July (CMP – 64.75)
NSE USDINR July as seen in the weekly chart above has opened the week with gap up at 64.8650 levels and on the same day it made a weekly high of 65.12 levels. Later on prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 64.7350 levels. This week prices have closed below the previous week’s closing of 64.80 levels and finally closed 0.08% lower at 64.75 levels. Technically, prices have formed “Inverted Hammer Candlestick pattern” which indicates further weakness.
For the next week we expect USDINR prices to find support in the range of 64.40 – 64.30 levels. Trading consistently below 64.30 levels would lead towards the strong support at 64.10 levels and then finally towards the major support at 63.80 levels.
Resistance is now observed in the range of 65.00 – 65.10 levels. Trading consistently above 65.10 levels would lead towards the strong resistance at 65.30 levels, and then finally towards the major resistance at 65.50 levels.
NSE USDINR trading levels for the week
S1 – 64.40 R1 – 65.00
S2 – 64.10 R2 – 65.30
Sell NSE USDINR July between 64.90 – 65.00, SL – 65.30, Target – 64.40 / 64.20.
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