USDINR
Preceding week USDINR stuck in range at 83.02 - 83.28 levels as dollar hit at 107.00 as well as oil price hit above $90 per barrels.
There is hope of correction in USDINR coming week as dollar index corrected nearly 1% (107.047 to 105.784) as well as Brent oil price fall 12.78% (From $92.51 per barrel to $83.13 per barrel).
We are recommending selling insight of USDINR at current level 83.10-83.20 with the near-term target price of 82.70 - 82.80 levels for the week. We must keep our stop loss between 83.30 - 83.40 levels.
Note: - USDINR weekly chart forming ascending triangle which indicate trend is bullish as far as hold triangle support line on weekly closing basis.
Support 1: - 82.80 - 82.90 Resistance 1: - 83.30 - 83.40
Support 2: - 82.50 - 82.60
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