USDINR Sep fut may consolidate between 83.25 to 82.95 with positive biasin today`s trade - HDFC Securities
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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 57.
* Trend indicator MACD is flattening with the MACD average and a negative histogram exhibiting a sideways trend.
* Minor short covering has been seen as the price gained by 0.04% while open interest declined by 3.1%.
* The trend remains bullish for the pair as long as it holds the support of 82.80.
* USDINR Sep fut may consolidate between 83.25 to 82.95 with positive biasin today’strade.
USDINR Sept Futures Daily Chart
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