USDINR Currency Strategy Aug 24, 2016, 09.51 AM
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TECHNICAL OUTLOOK
USDINR, the pair after opening at 67.23 and made a low of 67.10 and trading side wise session after pair breaking out few days back now 67.00-67.05 will act as a strong support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels
Fundamental Overview
US dollar index is trading at 94.61; rebounding from the lows that were seen yesterday. New home sales that were reported yesterday came in better than expected, pushing the dollar higher. Markets eagerly wait for the central bankers’ retreat starting from Thursday, looking for direction of future monetary actions
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Manufacturing PMI (Aug) 52.7 52.9
19:30:00 USD Existing Home Sales (MoM) (Jul) -0.40% 1.10%
19:30:00 USD Existing Home Sales (Jul) 5.51M 5.57M
20:00:00 USD Crude Oil Inventories -0.825M -2.508M
20:00:00 USD Cushing Crude Oil Inventories -0.724M
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USDINR, the pair after opening at 67.23 and made a low of 67.10 and trading side wise session after pair breaking out few days back now 67.00-67.05 will act as a strong support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels
Fundamental Overview
US dollar index is trading at 94.61; rebounding from the lows that were seen yesterday. New home sales that were reported yesterday came in better than expected, pushing the dollar higher. Markets eagerly wait for the central bankers’ retreat starting from Thursday, looking for direction of future monetary actions
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Manufacturing PMI (Aug) 52.7 52.9
19:30:00 USD Existing Home Sales (MoM) (Jul) -0.40% 1.10%
19:30:00 USD Existing Home Sales (Jul) 5.51M 5.57M
20:00:00 USD Crude Oil Inventories -0.825M -2.508M
20:00:00 USD Cushing Crude Oil Inventories -0.724M