Published on 15/03/2017 9:25:59 AM | Source: Tradebulls Sec (P) Ltd
USDINR Sell around 65.95 Target 65.70 Stop loss 66.10 - 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 at the end of the session which indicates continuation of selling pressure. Overall trend for USD/INR futures likely to remain bearish for intraday session due to selling pressure. Next important support seen at 65.70 levels. USD/INR futures likely to trade with sideways sentiments and 65.82 will be the trend deciding level for intraday session. Higher side resistance seen at 66.10 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 21.38 levels indicates that it is now trading in oversold zone and short covering may come at lower levels.
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