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USDINR

Technical Observations:

* USDINR July fut. has horizontal trend line support at 81.70 and downward slopping trendline resistance around 82.80.

* The pair has been placed well above major moving averages. The 10DEMA is about to give an upward cross-over to 21 DEMA.

* Momentum Oscillator, RSI of 14 days, is heading north indicating continuation of a positive momentum.

* MACD gave a positive cross-over to the MACD average and headed higher indicating a bullish trend.

* Short covering has been seen as the price gained while the open interest declined.

* USDINR July is expected to trade positive with resistance at 82.85 and support at 82.30.

USDINR July Futures Daily Chart

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