The pair has been placed well below the short-termmoving average of 21 days - HDFC Securities
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USDINR
Technical Observations:
USDINR Oct fut. has been hovering around a downward slopping trendline adjoining the previous swing high of 83.48 and 83.41.
The pair has been placed well below the short-termmoving average of 21 days.
Momentum Oscillator, RSI of 14 hours is placed above 50 and flattening indicating sideway trend.
MACD has been placed at zero line and stayed below the moving average.
Long buildup has been seen as price along with open interestrose.
Short Term Trend: Sideways
Expected Trading Range: 83.05 to 83.45 Intraday
Recommendation: Sell USDINR Oct. Fut. Below 83.25 SL 83.40 Target 83.05
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