USDINR TECHNICAL OUTLOOK : 13.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
US dollar index is trading at 100.95, continuing to trend higher as optimism about Trump’s proposed tax cuts remains high. Markets are expecting an announcement in this regard in the next 2 weeks, any announcement will send the dollar higher, else we can expect a retreat. There is no data to be reported today, expect the dollar to dominate until Yellen’s testimony tomorrow.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.94 made a low of 66.85 and was trading side wise in the range of 67.10-66.85 during the day now 66.70-66.50 is a strong support and likely to consolidate in the range with higher range at 67.00 so trade the range.Fundamental Overview
US dollar index is trading at 100.95, continuing to trend higher as optimism about Trump’s proposed tax cuts remains high. Markets are expecting an announcement in this regard in the next 2 weeks, any announcement will send the dollar higher, else we can expect a retreat. There is no data to be reported today, expect the dollar to dominate until Yellen’s testimony tomorrow.