USDINR opened with an upward gap and remained in positive terrain throughout the day - Axis Securities
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USDINR
USDINR opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 77.66 with a gain of 0.76 %.
On the daily chart USDINR has formed a sizable bullish candle forming higher HighLow compare to previous session and closed above previous session's high indicating positive bias. USDINR is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. Currently USDINR is sustaining above its 20 and 50 day SMA which support bullish sentiments in near term.
For the day if USDINR trade and sustains above 77.70 levels then it may move further upward towards 77.85-78 levels. On the downside an immediate intraday support is around 77.20 levels.
The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
EURINR
EURINR opened with a downward gap however buying momentum throughout the session led it to close on strong note.. EURINR closed at 81.91 with a gain of 0.32 %.
On the daily chart EURINR has formed a sizable bullish candle forming higher HighLow compare to previous session and closed above previous session's high indicating positive bias. EURINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. EURINR is trading below 20 day SMA which is important short term moving average, indicating negative bias in the short to medium term
For the day if EURINR trade and sustains above 81.95 levels then it may move further upward towards 82.10-82.15 levels. On the downside an immediate intraday support is around 81.30 levels..
The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
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