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USDINR

Technical Observations:

• USDINR February futures expected to consolidate in the range of 74.80 to 75.30 range before directional movements.

• The pair has been holding well above short term and medium term moving averages with higher top higher bottom formation on daily chart. • Relative Strength Index of 14 days period stays floating above breakeven line indicating consolidation.

• Fresh Long has been seen with rise in price, open interest while volumes remained dried amid decline in volatility

• USDINR February futures likely to trade between 74.80 to 75.10 in todays trade. The medium term trend remains up till it holds level of 74.60.

USDINR February Daily Chart

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