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Choice International Ltd

Published on 16/07/2019 11:06:35 AM

USDINR

Technical View:

* USDINR has declined by 0.21% on the daily timeframe in last trading session.

* However, price has pulled back from lower Bollinger band in last two trading days but it is getting pressure from upper side by 21*100 days EMA.

* Moreover, pair has also traded below falling trend line which adds more strength for bearish trend in upcoming session.

* In addition, an oscillator MACD has moved near (-)0.266 and another momentum indicator RSI(14) is at 34.06, which further witnessed downtrend.

* So based on the above structure, we expect bearish move towards 68.30 in USDINR for the day.

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LKP Securities

Published on 16/07/2019 11:05:03 AM

* SELL JPYINR JUL 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE

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LKP Securities

Published on 16/07/2019 11:04:41 AM

* SELL GBPINR JUL 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE

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LKP Securities

Published on 16/07/2019 11:04:16 AM

* SELL EURINR JUL 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE

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LKP Securities

Published on 16/07/2019 11:03:46 AM

* BUY USDINR JUL 2019 @ 68.60 SL 68.48 TGT 68.75-68.85. NSE

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HDFC Securities

Published on 16/07/2019 11:02:25 AM

TECHNICAL OUTLOOK HDFC Securities

USDINR JULY FUT. :

USDINR July futures formed inside bar on daily chart.

The pair has been consolidating in small range of 68.80 to 68.50.

Momentum indicators are showing sign of positivity indicating near term short covering. However, the trend remains bearish until it closes above 69.20

Near term resistance is placed at 69.10 and support at 68.30.

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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.

Kedia Commodities

Published on 16/07/2019 10:55:57 AM

JPYINR

* JPYINR trading range for the day is 63.51-63.86

* JPY traded in range as the U.S. dollar extended losses on continued Fed-driven momentum.

* Japan's industrial production grew at a less-than-initially-estimated rate in May, final data showed.

* Japan's tertiary activity declined in May after rebounding in the previous month, data from the Ministry of Economy, Trade and Industry showed.

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Kedia Commodities

Published on 16/07/2019 10:55:38 AM

GBPINR

* GBPINR trading range for the day is 86.06-86.53.

* GBP remained in range as investors remained wary about the British currency's outlook on growing economic headwinds and political fears.

* UK banks are resilient to a worst-case disorderly Brexit, but such an event will cause significant market volatility, the Bank of England said

* Hedge funds had ramped up their short bets against the pound to their highest levels since October 2018

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Kedia Commodities

Published on 16/07/2019 10:55:14 AM

EURINR

* EURINR trading range for the day is 77.4-77.65.

* Euro remained supported as dollar edged lower as stronger-than-expected U.S. inflation data failed to shake convictions that Fed will start cutting interest rates.

* Policymakers at the ECB agreed that they needed to be ready to ease the policy stance further, as uncertainties were likely to continue in the coming months

*  Germany's wholesale price inflation eased to the lowest since late 2016 in June, data from Destatis revealed.

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Kedia Commodities

Published on 16/07/2019 10:54:52 AM

USDINR

* USDINR trading range for the day is 68.53-68.75

* Rupee ended with losses on buying by nationalised banks likely on behalf of oil importers amid FII outflows from local stocks.

* The greenback steadied after stronger-than-expected and yet tame US inflation data tempered the prospect of an aggressive Fed interest rate cut this year.

*  India’s dominant services activity contracted for the first time in more than a year in June, dragged down by slowing new business growth.

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