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USDINR December futures expected to trade in range of 75.65 to 75.45 - HDFC Securities

USDINR

Technical Observations:

USDINR December futures formed Doji Candlestick pattern considered as indecisiveness. The candle high and low remain crucial for trend reversal.

It has oscillated between 75.65 to 75.40 on Tuesday.

The pair has resistance around 75.70 and support at 74.30.

Price and volume activities remained lack lustered ahead events.

Momentum oscillator, relative strength index of 14 days period heads north with positive cross over indicating positive momentum

USDINR December futures expected to trade in range of 75.65 to 75.45 in first half of the trade while directional movement can be seen in second half.

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