December 8, 2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 21-09-2016

MTECHTIPS USDINR rebounded from the day low 67.06 and tested 67.23 after the Bank of Japan Policy Since 14 September, USDINR struggling to break its immediate resistance of 67.25 on closing basis which is coincide with 23.8% Fibonacci Retracement of its short term fall. Hence, any rise towards 67.10-67.15 will create probability for correction towards 66.85 and below unless it gives a closing above 67.25.Further, 67.25 will act as a massive resistance and pair would need to trade above it in order to test 67.45-67.65.

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