The pair has been forming a triangle pattern on the daily chart - HDFC Securities
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Technical Observations:
* USDINR June fut. has been oscillating around 21 DEMA. It is closed below 21 DEMA.
* The pair has been forming a triangle pattern on the daily chart.
* The pair has Fibonacci extension support at 82.20 and resistance at 82.81.
* Momentum Oscillator, RSI of 14 days period is placed below 50.
* ADX line is weakening and placed below 25.
* Minor long unwinding has been seen as price and open interest declines.
* The near-term bias remains neutral to bullish as long as USDINR trades above 82.10 while 82.90 remains a big hurdle to cross.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
