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Mtechtips MCX-SX USDINR INTRADAY trading analysis 23-09-2016

Thursday, September 22, 2016 22:54
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Mtechtips MCX-SX USDINR INTRADAY trading analysis 23-09-2016


MTECHTIPS Dollar/rupee in the inter-bank offshore market and the dollar index rebounded Friday as investors’ covered their short positions taking advantage of the sharp fall in the greenback after Federal Reserve decided to maintain a status quo and signalled slower pace of rate hike in the coming years in its September monetary policyDollar/rupee ended at two-week low Thursday tracking FII inflows into local stocks amid weakness in dollar after US Federal Reserve decided to keep its interest rates unchanged and signaled a slower pace of rate hike in coming years. USDINR witnessed 0.58% its biggest intraday fall since 27 July 2016 and settled at 66.7175. As per the sell strategy given from 67.10-67.15 was successful with pair drop towards 66.6850 levels.



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