The pair is having support around 74.90 and resistance at 75.40 - HDFC Securities
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The pair is having support around 74.90 and resistance at 75.40 - HDFC Securities
USDINR
Technical Observations:
USDINR December futures formed Doji candlestick pattern indicating indecisiveness and breaking of Thursday’s high or low will clear the case for direction.
The pair has been trading well above short term moving averages on daily chart and higher top higher bottom on hourly chart.
Momentum oscillator, Relative Strength Index of 14 days period positioned above 50 considered positive momentum.
The pair is having support around 74.90 and resistance at 75.40.
Derivative data indicates short covering on Thursday’s session with fall in OI and rise in price.
USDINR December futures expected to trade in the range of 74.90 to 75.40.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
