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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