Mtechtips MCX-SX USDINR INTRADAY trading analysis 01-01-2016
Mtechtips MCX-SX USDINR INTRADAY trading analysis 01-01-2016
Mtechtips The Indian rupee was set to post its biggest gain in near two-weeks Thursday as foreign banks were seen selling dollars amid inflows into local shares, while bond yields traded flat on lack of fresh triggers ahead of New Year’s holidays amid hopes of demand after the overseas investors debt limit revision effective Jan 1.USDINR witnessed 0.35% fall from the intraday high 66.72 and settled at 66.3975. A formation of long bearish candle stick on EOD chart is indicating for bearishness in USDINR, but pair would need to trade below 66.35 in order to test 66.20-66.00 on the downside, else consolidation around 66.35-66.50.
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