USDINR is respecting its 25 DAM beautifully; however, 83.00 is an immediate and critical resistance zone - Swastika Investmart Ltd
CURRENCY OUTLOOK
DAILY CURRENCY MARKET UPDATES
NEWS IN HEADLINE:
* Dollar gains on solid data, euro drops on cautious ECB comments
* Exclusive-Chinese exporters using currency swaps to retain dollars as yuan sags
* Dollar stabilizes ahead of PCE inflation data; euro awaits eurozone CPI release
CHART OF THE DAY:
OUTLOOK:
USDINR: USDINR is respecting its 25 DAM beautifully; however, 83.00 is an immediate and critical resistance zone; above this, we can expect a short-covering rally towards the 83.10-83.20 zone. On the downside, 82.60 is an immediate support zone, while is 82.40 the next support zone.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
