IGI Logo

Technical Observations:

USDINR Dec fut formed Doji Candlestick pattern indicating indecisiveness among traders.

The pair has been consolidating in the range of 82.40 to 82.90 since the second week of the current month.

The pair has support at 81.94, the “Supertrend” line on the daily chart.

The spread between +DI and –DI narrowed, suggesting consolidation for the pair

Momentum oscillator, Relative Strength Index is hovering around 60, a sign of consolidation.

The derivative data shows a minor short covering as the price has risen while open interest and volume declined.

USDINR Dec fut is expected to trade between 82 to 83 before heading north

USDINR December Futures Daily Chart

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer