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USDINR

USDINR opened with an upward gap but witnessed selling from the opening tick to end near the day's low. USDINR closed at 74.53 with a loss of 0.04 %. On the daily chart USDINR has formed a small bearish candle carrying upper shadow indicating resistance at higher levels. 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 The chart pattern suggests that if USDINR breaks and sustains below 74.45 level it would witness selling which would lead USDINR towards 74.30-74.15 levels. Important Resistances for the day are placed at 74.90. 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 an upward gap and witnessed consolidation for most part of the session. However last hour pullback action pulled EURINR higher to close near the day's high. EURINR closed at 84.74 with a gain of 0.23 %. On the daily chart EURINR has formed a Bullish candle but traded within a small range indicating lack of strength 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 84.40 level it would witness selling which would lead EURINR towards 84.30-84.20 levels. Important Resistances for the day are placed at 85.15-85.25. 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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