Way2Wealth has come out with its report on currency. According to the research firm, one can Sell USDINR for the target of 65.40 with a stop loss of 66.40.
Way2Wealth's currency report on USDINR
After opening at 65.35 the USDINR pair rose till the high of 65.70 in the early hours, but the pair failed to hold at higher levels and lost most of its initial against and finally ended at 65.57 mark. The continuous fall in prices has brought the pair into the oversold zone territory, which can be noticed by momentum indicator RSI. Ahead, we could see pair recovering marginally till the key resistance of 66.00 mark and these pull backs are can be used for fresh short positions.Pair : USDINR
Action : Sell
Entry : 66.00
Target : 65.40
Stop Loss : 66.40
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.