Mtechtips MCX-SX USDINR INTRADAY trading analysis 08-01-2016
Thursday, January 7, 2016 23:19
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Mtechtips MCX-SX USDINR INTRADAY trading analysis 08-01-2016
Mtechtips The Indian rupee fell to three-week low Thursday after China devalued its currency sharply for a second time in six months to maintain export competitiveness and bond yields traded flat ahead of sale of New benchmark bond.After hitting an intraday high of 67.1475, USDINR retraced towards 66.83 and settled at 67.0825 levels yesterday. An inverted hammer candle stick on EOD chart is indicating for short term trend reversal in USDINR.Immediate support is seen at 66.82 sustain move below will expect to test 66.60 and below. On the upside, strong resistance is seen at 67.20 sustain move above will expect to test 67.35-67.
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