EURINR:Immediate resistance is placed around 76.40 level | | Outlook on currencies | Investment Idea | Indianotes.com
USDINR futures opened lower with gap in the last session and prices corrected initially till low of 64.75. Later prices recovered strongly for most of the session till high of 64.99. Prices have bounced after taking strong support near 20 weeks simple moving average coinciding with 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 recover towards immediate resistance placed at 65.20 level.
EURINR futures opened slightly lower in the last session and prices corrected further in the opening session till low of 76.04. Prices recovered gradually for the remaining session and closed around 76.31 level. Prices have been correcting gradually since last few sessions after making a lower high of 77.47 and are expected correct further from these levels towards immediate support placed around 75.90 level. Immediate resistance is placed around 76.40 level.
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