Moneycontrol
Aug 10, 2017 10:44 AM IST | Source: Moneycontrol.com

Buy USDINR; target of 64.25: Way2Wealth

Way2Wealth has come out with its report on currency. According to the research firm, one can buy USDINR for the target of 64.25 with a stop loss of 63.75.

Buy USDINR; target of 64.25: Way2Wealth
Dollar

Way2Wealth's currency report on USDINR


USDINR futures opened higher with gap in the last session and prices consolidated for the whole session in the range of 63. 87 - 64.00 levels. Prices have taken strong support around 50% Fibonacci retracement of its rally from low of 58.33 till high of 69.21, which is placed around 63.77 level. Prices have not closed below these levels in the past few sessions and are expected to give short term bounce from these levels towards immediate resistance placed at 64.25 level.

Pair : USDINR
Action : Buy
Entry : 63.95
Target : 64.25
Stop Loss : 63.75

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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