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USDINR

Technical Observations:

USDINR Dec future closed below 21 days moving average almost after a month.

The 10 DEMA is placed below 21 DEMA.

Momentum Oscillator, RSI of 14 days period turned down and weakened below 50 on the daily chart.

MACD has been placed below the zero line and is weakening.

Short covering has been seen as price gained while open interest declined.

Short Term Trend: Bearish

Expected Trading Range: 83.00 to 83.30

Short Term Recommendation: Sell USDINR Dec. Fut. at 83.25/83.30 SL 83.36 Target 83.00

USDINR Dec Futures Daily Chart

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