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Technical Observations:

USDINR June futures formed bullish candle after multiple Doji Candlestick pattern on daily chart indicating bullishness. However, it has been remain in broad range of 78.10 to 77.70.

The pair has been taking support at 13 days exponential moving average which is currently placed at 77.76.

Derivative data indicating long buildup with rise in price, open interest and volume.

Relative Strength Index of 14 days has given positive cross over to average and heading north indicating positive momentum.

USDINR June futures is expected to trade in the range with in range of 77.70 to 78.10.

USDINR June Daily Chart

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