USDINR TECHNICAL OUTLOOK : 06.10.2016
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 66.82and made a low of 66.72 had a
sidewise session, the pair had a indecision candle this signifies tug of war between bulls and bears , but 67, on spot will act as strong resistance while supports comes at 66.30 on spot so the pair is likely to consolidate in the range of 66.30-66.90 for the near term
Fundamental Overview
US dollar index is trading at 96.16, appreciating against the majors after a series of positive economic data was reported yesterday. PMI and factory output data were reported better than expected while the ADP nonfarm employment data missed projections. The rise in factory activity is a positive sign for the economy and investors have increased the odds for a rate hike from the FED. No data to be reported today and focus would be on the non-farm payrolls data tomorrow. Expect US dollar to appreciate going into the event.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Initial Jobless Claims 257K 254K
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 66.82and made a low of 66.72 had a
sidewise session, the pair had a indecision candle this signifies tug of war between bulls and bears , but 67, on spot will act as strong resistance while supports comes at 66.30 on spot so the pair is likely to consolidate in the range of 66.30-66.90 for the near term
Fundamental Overview
US dollar index is trading at 96.16, appreciating against the majors after a series of positive economic data was reported yesterday. PMI and factory output data were reported better than expected while the ADP nonfarm employment data missed projections. The rise in factory activity is a positive sign for the economy and investors have increased the odds for a rate hike from the FED. No data to be reported today and focus would be on the non-farm payrolls data tomorrow. Expect US dollar to appreciate going into the event.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Initial Jobless Claims 257K 254K