USDINR - Currency Update - Dec 6, 2022 - Mehta Equities

By Rahul Kalantri, VP Commodities, Mehta Equities Ltd

The USDINR 28 December futures contract recovered from its lows and crossed 81.85 levels once again. On the daily technical chart the pair is trading above its resistance level of 81.55 and showing positive divergence on the technical charts. RSI is fetching above 50 levels and MACD is also showing positive divergence on the daily technical chart. If the pair sustains above 81.55 levels it could test 82.10-82.35; now 81.30 acts as a major support for the pair. We expect the pair could trade in the range of 81.30-82.35 levels; either side breakout of the range could give further directions.

Source : Equity Bulls

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CurrencyUpdate USD INR MehtaEquities