Home / TIPS / Mtechtips MCX-SX USDINR INTRADAY trading analysis 06-10-2015

Mtechtips MCX-SX USDINR INTRADAY trading analysis 06-10-2015

Mtechtips MCX-SX USDINR INTRADAY trading analysis 06-10-2015

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Mtechtips The Indian rupee appreciated for the fifth straight trading session Monday rising to a six-week high against the dollar as dismal US job data pushed back fears of a rate hike by the Federal Reserve in October, while bond yields dropped to fresh 3-year low on buying by foreign banks amid lower US Treasury yields.USDINR extended its fall for fourth consecutive day and settled down by 0.43% at 65.5425 levels. Near term trend is expect to remain bearish following to break below crucial support 65.70 on EOD chart, but a high wave candle stick formation is creating  the probability  for short term recovery rally. Hence, further correction is expected to come below 65.35 towards 65.10-64.90 levels else wait for rise towards 65.70-65.90

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