USDINR : Technical View : 16.12.2019
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The USDINR gapped down, but filled the gap witnessing support from lower levels during the last session.
Moreover, on the daily chart, the price has taken support of the 200 EMA which signifies bullish strength in the counter.
The price also taken support of the lower Bollinger Band and moved up, which indicates power to the bulls.
Additionally, momentum indicator Stochastic (6) has shown a positive crossover, which indicates bullishness.
Hence, we expect bullish move in USDINR future towards 71.11 level.
Moreover, on the daily chart, the price has taken support of the 200 EMA which signifies bullish strength in the counter.
The price also taken support of the lower Bollinger Band and moved up, which indicates power to the bulls.
Additionally, momentum indicator Stochastic (6) has shown a positive crossover, which indicates bullishness.
Hence, we expect bullish move in USDINR future towards 71.11 level.