EURINR opened with an upward gap but witnessed selling from the opening tick to end negative - Axis Securities
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USDINR
USDINR opened with a downward gap and remained negative throughout the day. USDINR closed at 74.91 with a loss of 0.54 %. On the daily chart USDINR has formed a sizable Bearish candle forming lower Highlow compare to previous session and has closed below previous session's low indicating negative bias USDINR is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating short term downtrend. USDINR is trading below 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if USDINR breaks and sustains below 74.80 level it would witness selling which would lead USDINR towards 74.70-74.60 levels. Important Resistances for the day are placed at 75.30. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
EURINR
EURINR opened with an upward gap but witnessed selling from the opening tick to end negative. EURINR closed at 83.72 with a loss of 0.25 %. On the daily chart EURINR has formed a long Bearish candle forming lower HighLow compare to previous session indicating negative bias. 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 83.70 level it would witness selling which would lead EURINR towards 83.55-83.45 levels. Important Resistances for the day are placed at 84.25-84.35. 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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