Forex Market News

Buy USDINR Around 67.02 Target 67.20 Stop Loss 66.90

USD/INR futures traded with bearish sentiments due to selling pressure from traders in last session. Overall trend for USD/INR futures likely to remain sideways for intraday session due to short covering. Next important support seen at 66.90 levels. USD/INR futures likely to trade with sideways sentiments and 66.98 will be the trend deciding level for intraday session.
Higher side resistance seen at 67.22 levels. Technically, USD/INR futures may witness volatile price movement at lower levels due to short covering. Applying momentum Indicator RSI for 14-day period trending at 31.99 levels indicates that it is now trading near oversold zone and short covering may come at lower levels. Technically, It broke crucial support of 67.34 and settled below the same which indicates selling pressure in coming sessions as well.
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