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Technical Observations:

USDINR December futures formed Doji candlestick pattern on daily chart indicating indecisiveness. We can also see lower volume and stronger support around 21 DEMA. Momentum oscillator, Relative Strength Index of 14 days period turned weak on daily chart with RSI line pierced below average line with south bound direction. MACD given negative cross over to MACD Average indicating weaker trend going ahead. Derivative data indicating long unwinding as price, volume and open interest declined. USDINR December futures expected to trade in the range of 75.30 to 75.80 with bearish bias for next couple of days.

Daily Chart

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