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USDINR opened with an upward gap and remained in positive terrain throughout the day - Axis Securities Ltd
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USDINR
USDINR opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 74.7825 with a gain of 0.33 %. USDINR opened with an upward gap and buying momentum throughout the session led it to close near day’s high. USDINR continues to move in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. USDINR is trading below 20 and 50 day SMA's which are important short term moving averages, indicating negative bias in the short to medium term For the day if USDINR trade and sustains above 74.85 levels then it may move further upward towards 75.05-75.15 levels. On the downside an immediate intraday support is around 74.50 levels. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
EURINR
EURINR opened with downward gap and remained extreme volatile throughout the session.. EURINR closed at 84.46 with a loss of 0.33 %. On the daily chart EURINR has formed a small bearish candle forming lower High-low compare to previous session indicating negative bias EURINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. EURINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if EURINR breaks and sustains below 84.35 level it would witness selling which would lead EURINR towards 84.25-84.15 levels. Important Resistances for the day are placed at 84.80-84.95. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
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