In the currency markets, the USD was trading lower versus the JPY and EUR and the dollar index was sharply lower around 81.125. This would result in a weak open for the USDINR in Indian markets today.
The USDINR is expected to find strong support near Rs 51.351. If this support is broken the unit price could slide to Rs 51.036 which is the next support. On the upside, the resistance will be seen at Rs 52.06 above this the trend could become positive for the next few days.
Strategy: Sell on rallies.
The USDINR is expected to find strong support near Rs 51.351. If this support is broken the unit price could slide to Rs 51.036 which is the next support. On the upside, the resistance will be seen at Rs 52.06 above this the trend could become positive for the next few days.
Strategy: Sell on rallies.
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