Way2Wealth's currency report on USDINR
The currency pair closed with negative bias yesterday and technically the USDINR is in consolidation mode and breakout of 81.94 would invite an intraday buying pressure. The USD/INR pair has rebounded after dropping to 81.72 in the recent low and the momentum indicator MACD are in consolidation signal. Going forward, the USDINR has support at 81.74 and 81.65 levels. On the higher side, the resistance will be at 81.91/81.98-82.05 levels. We would remain consolidation on USDINR at bottom level and advise to buy above 81.90 levels for the target of 81.98 levels.
Today’s Currency Trading Strategy
| Currency Futures | Expiry | Action | Entry | Target | Stop loss |
| USDINR | 29th May 2023 | Buy | above 81.90 | 81.98 | 81.74 |
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