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USDINR: Immediate strong resistance placed around 65.30 level - IndiaNotes.com
USDINR: Immediate strong resistance placed around 65.30 level
Way2wealth | Published: 03 Nov, 2017  | Source : IndiaNotes.com

USDINR

Technical Outlook


USDINR  futures  opened lower with  gap in  the  last  session  and  prices  recovered for most of the session till  high  of 64.86.

Prices closed  flat  around  64.80  level.

Prices   have taken strong support  at 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 from  these towards immediate strong resistance placed   around   65.30 level.


EURINR


Technical Outlook


EURINR  futures  opened  flat in  the  last  session  and  prices  consolidated for the whole session in the range  of 75.50-75.65  levels.

Prices have been correcting gradually  since  last  few  weeks after  breaking down  from  its short  term  rising  trend  line  support 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 74.44 level.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.