USDINR: Immediate strong resistance placed around 65.35 level | Prices expected to recover | Currency market | Indianotes.com


USDINR

USDINR futures opened lower in the last session and prices corrected further for first half of the session till low of 64.71. Later prices recovered slightly for the remaining session and closed around 64.80 level. Prices have corrected till strong support of 61.8% Fibonacci retracement of its rally from low of 63.89 till high of 65.12, which is placed at 64.75 level. Prices are expected to recover towards immediate strong resistance placed around 65.35 level.

EURINR

EURINR futures opened lower with gap in the last session and prices corrected further for first half of the session till low of 75.40 level. Later prices recovered slightly and closed around 75.50 level. Prices have been falling consistently after breaking down from its short term rising trend line support and are expected to fall further from these levels towards next strong support placed around 74.45 level.

GBPINR

GBPINR futures opened slightly higher with gap in the last session and prices rose gradually for the whole session till high of 86.34. Prices have bounced after taking strong support around its preivous rising trend line break out level. Prices are expected to rise further from these levels towards next strong resistances placed around 86.60 and 87.40 levels. On the lower side immediate supports are placed around 86.10 and 85.75 levels.

JPYINR

JPYINR futures opened sharply lower with gap in the last session and prices corrected further for the whole session till low of 56.88 level. Prices have fallen sharply after taking strong resistance near its short term declining trend line and touched its previous low of 56.88. Prices are expected to fall further from these levels if break below its multilple lows placed at 56.88 towards next strong support placed around previous double bottom near 56.50 level.

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