USDINR July futures posted freak high of 79.53 and closed at highest level - HDFC Securities
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Technical Observations:
* USDINR July futures posted freak high of 79.53 and closed at highest level.
* The pair has been holding bullish sequence of higher top higher bottom.
* It has support of 21 days exponential moving at 78.28.
* Derivative data is indicating fresh long position with surge in price and open interest.
* Relative Strength Index of 14 days about to enter overbought zone with positive crossover.
* +DI is placed well above –DI and ADX line strengthening indicating bullish trend.
* USDINR July futures likely to trade higher with resistance at 79 and support at 78.27.
USDINR July Daily Chart
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
