October 21, 2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 14-10-2016

MTECHTIPS Dollar/Rupee The greenback appreciated against rupee and breached its highest level since Mar 11 after the release of FOMC Sep 20-21 monetary policy meeting minutes. The Fed minutes showed the US central bank was moving closer to raising interest rates this year. The US central bank maintained status quo in September.Technical, USDINR witnessed more than half percent gain yesterday and settled at 67.0325 compare to previous close of 66.6750. However, pair yet remained below the strong resistance 67.25 level which has been hold since 3 Oct 2016. Today, a break above 67.25 only could trigger upside move towards 67.45-67.65 levels, else pair may show consolidation around 67.00-66.85.





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