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Published on 19/09/2019 11:53:07 AM | Source: Reliance Securities Ltd

We can expect sideways to positive action in USDINR - Reliance Securities

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

USDINR

* In the last session USDINR Spot had huge Gap down opening near 71.50 and post that it continued to move lower towards 71.21 levels.

* This has made bearish candlestick pattern however the overall trend still remains in a range of 71.00 and 72.00 levels.

* Hence one should be alert now as prices are near to the lower Bollinger bands area.

* For today, on back of FOMC Policy stance, rising Dollar index and stable Crude prices, we can expect sideways to positive action in USDINR.

* The range for today could be 71.60 and 71.10 levels. Intraday resistance is at 71.50 and 71.70 levels whereas support is at 71.10 and 71.00 levels

 

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