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Sell USDINR: Immediate supports near 64.40 level - IndiaNotes.com
Sell USDINR: Immediate supports near 64.40 level
Way2wealth | Published: 27 Nov, 2017  | Source : Businesswire India

USDINR: USDINR futures opened slightly higher in the last session and prices consolidated for the whole session in the range of 64.60-64.75 levels. Prices have broken down from its strong support of short term rising trend line and below 61.8% Fibonacci retracement of its rally from low of 63.74 till high of 65.12, which is placed at 64.65 level. Prices are expected to correct further from these levels towards immediate support placed at its previous multiple highs near 64.40 level. Action: Sell.


EURINR: EURINR futures opened on a strong note in the last session and prices rose further for most of the session till high of 76.83. Prices have been rising gradually since last three sessions after retesting its short term declining trend line breakout and bounced from 61.8% retracement of its rally from low of 75.21 till high of 77.47, which is placed at 76.08 level. Prices are expected to rise further from these levels towards immediate resistance placed around 77.40 level. Action: Buy.


GBPINR:
GBPINR futures opened slightly lower in the last session and prices recovered gradually for most of the session till high of 86.26. Prices have been trading in a narrow range of 85.75-86.45 levels and taken strong support at its 20 days simple moving average currently around 85.82 level. Prices are expected to hold this support and rise towards immediate resistance placed around its recent high at 86.52 level. Action: Buy.


JPYINR:
JPYINR futures opened slightly lower in the last session and prices consolidated for the whole session in the range of 57.95-58.10 levels. Prices have been rising gradually since last few sessions after breaking out from its short term declining trend line resistance and taken strong support at its short term rising trend line currently near 57.90 level. Prices are expected to rise from these levels towards immediate resistance placed around its recent high of 58.32 level. Action: Buy.

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