Spot USDINR took support at 200 SDMA and witness recovery on Tuesday -HDFC Securities
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Technical Observations:
* Spot USDINR took support at 200 SDMA and witness recovery on Tuesday.
* The pair has support at 82.25, the 10 DEMA.
* Short-term moving average is placed below medium-term moving average.
* Momentum Oscillator, RSI of 14 days period is placed below 50 but witnessed recovery.
* MACD has been floating below a zero line. Short covering has been seen as price gained while the open interest declined.
* We expect the pair to trade between 81.60 to 82.30 with a negative bias.
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