USDINR January future formed a bearish candle - HDFC Securities
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Technical Observations:
* USDINR January fut. formed a bearish candle with volumes indicating weakness in the trend.
* It has been placed below short-term moving averages.
* The pair has broken the “Supertrend” line support of 82.64.
* Momentum oscillator, Relative Strength Index fell below the centre line indicating weakness in the pair.
* MACD is placed below the MACD average giving a signal of a weak trend.
* The derivative data shows a long unwinding as the price and open interest declined.
* USDINR January fut. is expected to open higher and reclaim the short-term moving average. The pair is having support at 82.30 and resistance at 82.90.
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