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Strategy for coming week

Sell below 80.60

Stop Loss @ 81.75

View: Bearish

Target @ 79

View for the pair is Bearish and if the pair break below 80.60 it is likely to see 79.70 and 79 levels on the downside.

Technical Outlook on Rupee

* USDINR pair on the week chart broke below the range trading range. On the daily chart pair has closed below the 20 and 50 SMA. Momentum indicators RSI has given at negative crossover thus confirming bearish movement.

* If pair break below 80,60 we could see prices heading towards 79.70 and 79 on the downside . On the other hand, break above 81.75 would see pair testing 82.50 and 83.25 on the upside.

Strategy for coming week

Buy above @ 83.20

Stop Loss @ 82

View: Bullish

Target @ 85.50

View for the pair is bullish a break above 83.20 would push prices towards 84.50 and 85.50 on the upside.

Technical Outlook on EURINR

* EURINR pair on the weekly char making higher highs and higher lows formation. On the daily chart pair made long bullish candle and closed above 20 and 50 SMA denoting bullish strength.

* Momentum indicators RSI has given a positive crossover denoting confirming the bullish momentum.

* From the below observation we can conclude that if prices break above 83.20 pair could test 84.50 and 85.50 on the upside . On the other hand break below 82 could see pair testing 81 and 80 on the downside.

Strategy for coming week

Buy above @ 95.20

Stop Loss @ 94

View: Bullish

Target @ 98

View for the pair is bullish a break above 95.20 would push prices towards 97 and 98 on the upside.

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