IGI Logo

USDINR November futures has support at 74.20 - HDFC Securities 

USDINR

Technical Observations:

As reported earlier, USDINR November futures, witnessed rebound in previous session taking support form the retracement levels of 61.8% at 74.12 on closing basis.

The pair is still indicating bearish trend on daily charts over sharp fall in past week with prices trading below 20 EMA.

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 74.20, and resistance at 74.85 for short term.

We expect pair to witnessed another buying session before it resumes the downtrend.

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