USDINR TECHNICAL OUTLOOK : 06.09.2016

USDINR TECHNICAL OUTLOOK : 06.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE

Click Here  & Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753

Above is the Daily Chart of USDINR, the pair after opening at 67.35and made a high of 67.35 and trading side wise to negative and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- will act as a strong resistance in the pair as this becomes the physiological level, and now violated the major support so intraday rise shall be utilized to sell the pair

Fundamental Overview

US dollar index is trading at 95.74, remaining supported despite the weak non-farm payrolls data on Friday. The US markets remained closed yesterday but the US dollar remained stable. Prospects of a rate hike in September have been lowered significantly after the report but a December rate hike still remains on the cards. Focus would be on the FED beige book and non-manufacturing ISM in the days ahead.


Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Markit Composite PMI (Aug) 51.5 51.5
19:15:00 USD Services PMI (Aug) 50.9 50.9
19:30:00 USD ISM Non-Manufacturing Employment (Aug) 51.4
19:30:00 USD ISM Non-Manufacturing PMI (Aug) 55 55.5
Presented by

DISCLAIMER

The suggestions made herein are for information purposes and are not recommendations to any person to buy or sell any securities. The information is derived from various sources that are deemed to be reliable but its accuracy and completeness are not guaranteed.Our blog does not accept any liability for the use of this column. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their actions. And we won't be liable or responsible for any legal or financial losses made by anyone .Any surfing and reading of the information available in this blog is the acceptance of this disclaimer.