NSE USDINR July as seen in the weekly chart above has opened the week with gap down at 64.7525 levels and starting of the week it made a weekly low of 64.64 levels. Later on prices could not able to sustain on lower levels and rallied sharply and made a weekly high of 64.9875 levels. On the last trading session of the week price corrected towards 64.695 levels.
This week prices have closed above the previous week’s closing of 64.7625 levels and finally closed 0.01% higher at 64.77 levels. Technically, prices have formed “Doji Type Candlestick pattern” which indicates indecisiveness.
For the next week we expect USDINR prices to find support in the range of 64.50 – 64.40 levels. Trading consistently below 64.40 levels would lead towards the strong support at 64.20 levels and then finally towards the major support at 63.90 levels.
Resistance is now observed in the range of 65.10 – 65.20 levels. Trading consistently above 65.20 levels would lead towards the strong resistance at 65.40 levels, and then finally towards the major resistance at 65.60 levels.
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