See more buying in USDINR Feb fut above 53.50: Emkay

Emkay Global Financial Services has come out with its report on currency. The research firm says USDINR February Future, a break and close over 53.50 can attract more buying interest with the price objective of by 54 levels. Strong support is at 53.10.

USDINR spot: Spot USDINR could extend its three day gains towards 53.40 levels, as price has been holding well above 52.90-52.85 support levels. A break and close above 53.40 can make a way towards 53.95 levels. Any intraday declines can’t be ruled out towards 53.00 levels. USDINR Feb: A break and close over 53.50 can attract more buying interest with the price objective of by 54.00 levels. Strong support is at 53.10. EURINR Feb: EURINR is looking weak for the day and is likely to decline from current levels with the price objective of 72.00 followed by 71.50 levels. GBPINR Feb: GBPINR could shift its trend to bullish from current levels as price bounced from key 83.00-82.50 levels. 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. To read the full report click on the attachment

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