USDINR: Buy on dips around 64.10 for upside targets of 64.45 | Outlook on currencies | Investment Idea | Indianotes.com
USDINR: After five sessions of straight fall the USDNR pair witnessed the massive recovery during Friday’s session and ended at 64.27. The pair is trading below the immediate trend line and according to that the immediate resistance is at 64.45 and surpass above that will extend the pair till long term trend line of 64.70. Hence, for the day we recommend buying on dips around 64.10 for above mentioned targets of 64.45 for the day. Action: Buy.
EURINR: On Friday, EURINR pair opened with a minor gap up at 80.24 and made high of 80.46 and by the end it finally ended at 80.26 forming doji candlestick pattern. For the day the immediate supports is at 79.80 and recommend buying dips for immediate high of 80.50 levels. Action: Buy.
GBPINR: During the Friday, GBPINR pair extended its gains and surged till the high of 90.59 and finally ended at 90.42. The momentum indicator stochastic has made fresh, positive cross over and the RSI is also recovering from the lower levels is indicating further upside move. Thus, we recommend buying around 90.18 for upside targets of 91.10. Action: Buy.
JPYINR: JPYINR pair witnessed sharp up move after last two sessions of minor negative close and settled almost near the day’s high of 60.56. For the day key resistance is at 60.62 surpass above that will provide further bullish signs. Thus, we recommend buying above 60.62 for upside levels of 61.10 and higher. Action: Buy.
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