USDINR TECHNICAL OUTLOOK : 09.09.2016

USDINR TECHNICAL OUTLOOK : 09.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE


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Above is the Daily Chart of USDINR, the pair after opening at 66.67and made a high of 66.69 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 and until that crossed on the upside the pair is likely to find strong supply there

Fundamental Overview

US dollar index is trading at 94.86, recouping the losses from the last few sessions. Major focus was on the ECB yesterday, but the fall in risk appetite aided in the US dollar in its recovery. After the ECB, now focus turns to the US FOMC meeting this month. Expectations remain low for a rate hike this month but markets are likely to continue with the guessing game, leaving the US dollar supported at these levels.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:15:00 PM USD FOMC Member Rosengren Speaks
7:00:00 PM USD FOMC Member Kaplan Speaks
10:30:00 PM USD Baker Hughes U.S. Rig Count

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