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USDINR December futures has resistance at 76.27 and support 75.70 -  HDFC Securities

USDINR

Technical Observations:

USDINR December futures resisted at upper band of the Bollinger band. The trend remains bullish as it has been sticking to upper band of the Bollinger band.

The pair is well placed above short and medium term moving averages.

It has been trading in rising channel adjoining recent swings.

Momentum oscillator, Relative Strength Index of 14 days period entered in overbought zone.

Rise in open interest and price indicating continuation of long buildup.

USDINR December futures has resistance at 76.27 and support 75.70. Near term bias remains bullish until it breaks 75.35 on closing basis.

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