USDINR is indicating negative opening as Asian equities are trading higher and the Singapore Nifty futures suggest a positive open and trade for the Indian equity markets. This would be positive signal for the USDINR. In the currency markets, the Yen was firmer versus the USD but it was the euro that was showing the most strength in Asian trade.
Strategy for USDINR Futures Series, Opening cues negative for the USDINR and hence traders could see a lower open for the unit. On the daily charts, the unit has got strong support at Rs 53.41. Breach of the support could be negative and would result in a test of Rs 53.21. Whereas, On the upside the resistance for the day is at Rs 53.811 with intermediate resistance at Rs 53.711.
Strategy for USDINR Futures Series, Opening cues negative for the USDINR and hence traders could see a lower open for the unit. On the daily charts, the unit has got strong support at Rs 53.41. Breach of the support could be negative and would result in a test of Rs 53.21. Whereas, On the upside the resistance for the day is at Rs 53.811 with intermediate resistance at Rs 53.711.
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