USDINR may Appreciate, while EURINR may trade higher: Angel Broking

Daily Market Wrap Up by Mr. Anuj Gupta - Head Technical Research - Commodities & Currencies, Angel Broking

NSE USDINR Jan

Today NSE USDINR Jan opened with gap up at 68.31 levels and touched the intraday high of 68.42 levels and after that it touched the intraday low of 68.20 levels. Today prices have closed 0.23% lower at 68.26 levels. On the Technical charts Prices have formed Bearish candlestick pattern which indicates further weakness (appreciate).

For tomorrow we expect that USDINR may trade on appreciate mode (down side) to test 68.00 levels. Strong support could be seen at 68.00 / 67.80 levels and resistance may observe at 68.40 / 68.60 levels.

NSE EURINR Jan

Today NSE EURINR Jan opened with gap up at 71.50 levels and touched the intraday low of 71.42 levels. During the day prices have rallied sharply and made a intraday high of 71.60 levels. Today prices have closed 0.15% higher at 71.55 levels. On the Technical charts prices have formed bullish candlestick pattern which indicate further strength.

For tomorrow we expect that EURINR may trade towards higher side to test 71.70 levels. Strong support could be seen at 71.20 / 70.90 and resistance may observe at 71.70 / 72.00 levels.

Source : Equity Bulls

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