IGI Logo

USDINR November futures has support at 73.90 - HDFC Securities 

USDINR

Technical Observations:

USDINR November futures, derivative data indicating fresh short buildup with rise in open interest and fall in price.

The pair has breached recent support of super trend and medium term trend line while holding key support at 61.8% retracement level at 74.15.

Momentum oscillator, Relative Strength Index of 14 days period turned weak on daily chart with RSI line pierced below average line.

USDINR November futures has support at 73.90 as the pair is clearly signaling bearish trend. A pull back on prices may limit upside till 74.50 in near term.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer