USDINR:Prices are expected to rise further from these levels | IndiaNotes.com



USDINR

Technical Outlook

USDINR  futures  opened strongly  higher in  the  last session  and  prices consolidated for  the whole session in   the   range   of   65.20
-65.35 levels.

Prices   have recovered after  taking strong support around  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  rise further from  these  levels towards  next  strong resistance placed  around  65.60 level.

EURINR

EURINR   futures opened sharply   lower in   the   last  session and prices consolidated for most of the session in   the   range   of   75.90-76.10 levels.

Prices have corrected   sharply after   breaking down   from   its symmetrical triangle  chart  pattern and are  expected  to correct  further
from  these  levels towards  next  strong  support    placed    around  38.2%    Fibonacci retracement  of  its  rally  from  low  of  68.21  till  high  of 78.29, which is placed at 74.45 level.
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