USDINR pair is expected to trade with a negative bias - Religare Broking
Key Highlights
* The USDINR futures yesterday since opening faced significant selling pressure and traded on a negative note the entire day. It shed around 0.54% or appx. 23 thousand contracts as Open Interest during the day. The levels of 82.60 played key resistance during yesterday's trade.
* PCR-OI for the June series inched higher to 0.83 vs 0.82 in the previous session.
* The Dollar Index traded on a negative note after it failed to sustain above the key hurdle of 104.50-105.60. It ended the day at 103.50. The levels of 103.30 will play key support onwards.
* Crude Oil prices found support at $72 during yesterday's trade. It ended the day at $74 higher by around 3%.
USDINR Outlook
USDINR pair is expected to trade with a negative bias.
Key Resistance around 82.55 mark (Spot)
Key Levels (June Fut)
Support: 82.30/82.20
Resistance: 82.60/82.70
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