IGI Logo

USDINR

Technical Observations:

USDINR Sept fut. facing resistance at 82.90, the horizontal line showing multiple tops.

The pair is oscillating around 21 DEMA.

Broadly, the pair has been trading between 81.75 to 83.30.

The Relative strength index of 14 days remained above 50.

Trend indicator MACD remained weak on the daily chart. The negative cross-over of the MACD average and histogram indicates a medium-term downtrend.

Minor long unwinding has been seen as the price fell by 0.01% while open interest gained by 1.8%.

Looking at the derivative data and chart patterns, USDINR Sep fut is expected to consolidate between 82.60 to 82.90.

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