EURINR: Immediate resistance placed at 76.95 level | Outlook on currencies | Investment Idea | Indianotes.com


USDINR  futures  opened  slightly  lower  with  gap  in  the  last session and prices  corrected sharply  for the whole session  till  low  of  64.56.  Prices  have  broken  down  from  its  strong  support  of  61.8%  Fibonacci  retracement  of  its  rally  from  low  of  63.74  till  high  of  65.12,  which  is  placed  at  64.65  level.  Prices  are  expected to  correct further from these levels  towards  immediate support placed around its previous multiple swing highs near 64.40 level.


EURINR futures opened strongly higher with gap  in the last session and prices  rose further till  high of 76.80 in the  opening  session.  Later  prices  corrected  for  the remaining  session  till  low  of  76.48.  Prices  have  taken support  at  61.8%  Fibonacci  retracement  of  its  rally from low of 75.21 till high of 77.47, which is placed at 76.08  level  and  bounced  strongly  in  the  previous session.  Prices  are  expected  to  rise  from  these  levels towards immediate resistance placed at 76.95 level.

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