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Last Updated : Jul 11, 2016 10:31 AM IST | Source:

Sell USDINR rise at 67.49; target of 67.02: Way2Wealth

Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell USDINR rise at 67.49 for the target of 67.02 with a stop loss of 67.71.

Way2Wealth's report on currencies



USDINR  Pair following the dark cloud cover candlestick  pattern shed  some  further gains  in the past session. We  expect pair to break the low  67.39 and test the lower  levels of 67.12. Daily MACD has rolled to the sell side and  is on the verge of entering the negative zone.


Pair  failed to respect the hammer like candle and opened  with a  negative gap and after trading in a sideways  manner ended with a doji cross. Daily RSI is valued at  27.3 and this can trigger some bounce in the pair.


Pair ended the second consecutive session in red after the  breakdown and also ended at the lower  levels of 74.65.  Daily RSI is valued at 40.51 thus more room is available  for further selling.


Action : Sell below
Entry : 67.49
Target : 67.02
Stop Loss : 67.71

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

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First Published on Jul 11, 2016 10:31 am
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