Forex Market News

BUY USDINR Strategy 66.55 – 66.52; Target Of 66.79

US dollar index is trading at 95.28 , recovering from the lows near 95.00 that were seen yesterday . Better than expected new home sales were reported for the month of August but the key focus remained on the first US presidential debate for 2016 . The debate had a positive impact on the markets with Asia recovering after the same . The race is still considered close and the uncertainty can benefit the US dollar.
USDINR Sep Futures opened marginally higher and prices resumed selling after making a high of 66.80. Prices fell for the most of the session and closed near days low around 66.65 . Prices are trading under selling pressure after breaking a strong support of 66.90 few sessions earlier and expected to fall further till next strong supports placed at 66.50 and 66.30. On the higher side strong resistances are placed at 66.90 and 67.2 0 levels.
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