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Technical Observations:

Spot USDINR is placed at 10 DEMA. The formation of a small body candlestick pattern suggests consolidation.

The formation of higher tops and bottoms supporting the dollar bulls.

The Relative strength index of 14 days remained positive and is currently placed at 55.

Trend indicator MACD is flattening with the MACD average with a negative histogram exhibiting a sideways trend.

Minor long unwinding has been seen as the price gained by 0.02% and open interest by 0.01%.

The trend remains bullish for the pair as long as it holds the support of 82.80.

USDINR Sep fut may consolidate between 83.10 to 82.90 with positive biasin today’strade.

USDINR Sept Futures Daily Chart

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