USDINR: Buy on dips at 64.72 for targets of 64.93 | Outlook on currencies |


On  Monday  USDINR pair  opened  marginally  higher  at 64.79 and inched till the high of 64.94 and by ended it settled   with marginal   gains   at   64.84.   Pair   is rebounding  from  61.8%  retracement  supports  and  on the  higher  the  trend  line  resistance  is  at  64.93.  So ahead, we expect pair to trade in the specific range of 64.65 -64.94. levels and advise buying on dips at 64.72 for targets of 64.93.


On  Monday,  EURINR  pair  opened  with  gap  down  at 75.21 and from it recovered till the high of 75.48, but it  failed  to  hold  till  the  ended  and  finally  settled  at 75.28.  The  primary  trend  is  still  bearish  and  thus  we advise selling   on   rise   around   75.52   for   downside targets of 75.00 the 74.44 levels


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