USDINR TECHNICAL OUTLOOK : 08.09.2016

USDINR TECHNICAL OUTLOOK : 08.09.2016

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Above is the Daily Chart of USDINR, the pair after opening at 66.53and made a high of 66.61 and trading side wise to negative the pair is trading below the crucial support of 66.65 (200DMA)that will act as a strong resistance in the pair as this becomes the key level, and now violated the major support , but intraday will see a range mentioned in the report

Fundamental Overview

US dollar index is trading at 94.86, appreciating marginally in the overnight trade. FED beige book released yesterday indicated that the 12 districts remained cautious before the November elections but remained optimistic about the economic outlook. There is no major data from the US tonight and all focus would be on ECB. We expect US dollar to remain supported at current levels.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Initial Jobless Claims 265K 263K 18:00:00
20:30:00 USD Crude Oil Inventories -0.083M 2.276M 20:30:00
20:30:00 USD Cushing Crude Oil Inventories -1.039M 20:30:00

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