Currency Tips: USDINR Trend

In the Currency market, USDINR is indicating a positive opening as Asian equities are down and the Singapore nifty futures opened on a weak note. The Japanese yen also traded weaker to the US dollar and the euro.
USDINR futures (Dec.) is likely to rise to it's first resistance level of Rs 53.39 in today's morning session. Only a break above Rs 53.39 could bring the USDINR into a positive trend, and it could test Rs 53.579 and Rs 53.669. On the other hand on the downside, it will find strong support at Rs 52.709.

Currency Tips for Today: USDINR Trend

The USDINR seems to be weak and opening indications are mixed as the Japanese markets traded higher while the Hang Seng was at 0.36% yesterday. For today, Rs. 53.39 will act as a strong support for USDINR and if this level is broken a decline towards Rs. 53.09 level could also be seen. Whereas, on the upside USDINR has resistance at Rs. 53.714.

Forex Currency USDINR Trend and Tips for Today

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.