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USDINR

USDINR opened on a flat note but buying led USDINR upwards to end in the green. USDINR closed at 74.80 with a gain of 0.22 %. USDINR has formed a sizable bullish candle and has closed above previous session's high indicating positive bias. USDINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. USDINR is sustaining above its 20 day SMA which signals bullish sentiments in near term For the day if USDINR trade and sustains above 74.85 levels then it may move further upward towards 75-75.10 levels. On the downside an immediate intraday support is around 74.55 levels The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

EURINR

EURINR opened with downward gap and remained extreme volatile throughout the session.. EURINR closed at 84.42 with a loss of 0.1 %. On the daily chart EURINR has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels EURINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. EURINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if EURINR breaks and sustains below 84.30 level it would witness selling which would lead EURINR towards 84.20-84.10 levels. Important Resistances for the day are placed at 84.85-84.95. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

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