Sunday, September 11, 2016

USDINR TECHNICAL OUTLOOK : 12.09.2016

USDINR TECHNICAL OUTLOOK : 12.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE

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Above is the Daily Chart of USDINR, the pair after opening at 66.70and made a low of 66.68 and trading with a strong momentum on the upside ,the pair was hovering near the crucial support of 66.65 (200DMA) and now had a strong candle that suggest bulls aggressiveness on the on the lower side thus until the pair close below 66.50 any dips shall be untied to buy the pair

Fundamental Overview

US dollar index is trading at 95.30, continued to remain on a stronger side against the majors despite the soft economic data. Markets remained doubtful about the continue appreciation for the majors and the demand for the US dollar improved as risk appetite waned in the last few sessions. There is no major data today and markets are likely to remain range bound for most of the day