Mtechtips MCX-SX USDINR INTRADAY trading analysis 16-09-2015
Mtechtips Dollar/rupee settled with little changed on Tuesday as investors remain cautious ahead of the US Federal Reserve two-day policy setting meeting that concludes on Sep 17 even as India posts record low retail inflation in August and thereby build a case for a rate cut by the Reserve Bank of India.
USDINR traded in between previous day range and settled at 66.52 almost flat.
Today USDINR is expected to trade in between 66.45-66.70 levels .Immediate support is seen at a 66.38 sustain trade below this level may extend correction the pair towards 66.25-66.10 levels. However, down side move could be limited as there is a major support area around 66.00-65.91 where reversal may take place in the near term.