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Sell USDINR: Immediate resistances are placed around 64.20 and 64.45 levels

Way2wealth | 01 Jan, 2018  | Follow Author | Add to my Favourites 
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USDINR  futures  opened  sharply  lower  in  the  last  session and prices fell further for the whole session till low of 63.97. Prices have corrected after taking strong  resistance  around  its  20  days  simple  moving  average currently near 64.35 level and are expected to correct  further  from  these  levels  towards  immediate  strong support  placed  around  its  previous  bottom  of  63.74 level.  On  the  higher  side  immediate  resistances  are  placed around 64.20 and 64.45 levels.

EURINR  futures  opened  flat  in  the  last  session  and  prices corrected for first half of the session till low of  76.65  and  recovered  for  the  remaining  session  till  previous  closing  levels.  Currently  prices  have  taken  strong resistance around its short term declining trend  of  the  symmetrical  triangle  chart  pattern  and  are  expected  to  correct  from  these  levels  towards  immediate  supports  placed  around  76.50  and  76.30 levels.

  futures  opened  flat  in  the  last  session  and  prices corrected  for  first half of the  session till  low  of 86.35.  Later  prices  recovered  for  the  remaining session  and  closed  flat  on  daily  basis.  Prices  have taken  strong  support  at  its  20  days  simple  moving average  currently  near  86.32  level  and  are  expected to  rise  from  these  levels  towards  immediate resistances placed around 86.75 and 87.30 levels.

JPYINR  futures  opened  flat  in  the  last  session  and  prices  corrected  for  the  whole  session  till  low  of  56.88. Prices have fallen after taking strong resistance  at its  20 days simple moving average currently around  57.05  level  and  are  expected  to  correct  further  if  break  below  56.88  level  towards  immediate  support  placed  around  its  multiple  bottoms  near  56.50  level.On  the  higher  side  next  strong  resistances  are  placed around 57.17 and 57.60 levels.
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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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