Forex Market News

Sell USDINR Around 65.50 Target 65.30 Stop Loss 65.65

USD/INR futures traded with firm sentiments due to short covering from traders in last session. It failed to sustain at higher levels which indicate continuation of volatile sentiments in today’s session as well. Overall trend for USD/INR futures likely to remain sideways for intraday session due to short covering.
Next important support seen at 65.30 levels. USD/INR futures likely to trade with sideways sentiments and 65.40 will be the trend deciding level for intraday session. Higher side resistance seen at 65.62 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 21.89 levels indicates that it is now trading in oversold zone and short covering may come at lower levels.
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