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Published on 23/07/2019 11:45:57 AM | Source: Reliance Securities Ltd

USDINR pair has witnessed a dried consolidation range of 68.88—69.05 levels - Reliance Securities

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

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USDINR

* USDINR pair has witnessed a dried consolidation range of 68.88—69.05 levels throughout the session.

* On the daily chart, it has formed 0 Grave Stone Doii Candlestick pattern on 0 Resistance line which is 69.05 level which suggest there is a sign of Bearish Reversal if price sustained below 68.95 level.

* However, USDINR pair is trading above its 21-Daily Moving Average which is placed at 68.82 level which will act as a maior support in coming sessions.

* Daily Momentum Indicators RSI & MACD remains positive.

* As per current market action & above technical parameters, USDINR pair is expected to trade in indecisive range where any breakaway above 69.10 can see an upside rally of 69.25—69.35 level whereas it is expected to consolidate in range of 68.70-69.10 level.

 

 

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