USDINR December futures floats above cloud resistance and touched swing high - HDFC Securities
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USDINR December futures floats above cloud resistance and touched swing high - HDFC Securities
USDINR
Technical Observations:
USDINR December futures floats above cloud resistance and touched swing high.
The pair has been heading higher with bullish sequence of higher top higher bottom.
Momentum oscillators and indicators also strengthening on daily chart. However, overbought condition on hourly chart suggesting consolidation or profit booking before heading north.
On Wednesday, volumes were lower while price and open interest show rise indicating long buildup.
USDINR December futures could open slightly lower and make down swing with overall setup remaining bullish.
It has resistance at 75.70 and crossing of the same will open 76.27 while on down side 75.20 remains support.
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