USDINR February futures expected to trade in the range of 75.20 to 75.47 in today’s trade - HDFC Securities Ltd
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Technical Observations:
* USDINR February futures formed bearish candle after retracing 76.4% on daily chart, which could be a short term reversal indicator.
* However, it has been still in bullish sequence of higher top higher bottom on daily and hourly chart.
* Relative Strength Index of 14 days period heading south, after touching overbought zone indicating short term weak momentum.
* ADX line heading upward with +DI pierced above –DI indicating positive trend.
* Long unwinding has been seen with fall in price and open interest.
* USDINR February futures expected to trade in the range of 75.20 to 75.47 in today’s trade.
USDINR February Daily Chart
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
