USDINR OUTLOOK - 30.08.2016
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 67.45and made a low of 67.40 and trading side wise to positive and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- 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 95.69, remaining supported after a brief decline in yesterday’s session. There was no major economic data reported yesterday but the comments from key FED members at Jackson Hole led to a sharp rise in odds favouring a rate hike. All focus would be on the Friday non-farm payrolls data and we can expect range bound movement till that day, with a continued bias for dollar appreciation.
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 67.45and made a low of 67.40 and trading side wise to positive and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- 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 95.69, remaining supported after a brief decline in yesterday’s session. There was no major economic data reported yesterday but the comments from key FED members at Jackson Hole led to a sharp rise in odds favouring a rate hike. All focus would be on the Friday non-farm payrolls data and we can expect range bound movement till that day, with a continued bias for dollar appreciation.