USDINR TECHNICAL OUTLOOK : 22.09.2016

USDINR TECHNICAL OUTLOOK : 22.09.2016

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Above is the Daily Chart of USDINR, the pair after opening at 67.07 and made a high of 67.23 saw some sidewise session yesterday and could not surpass the strong resistance of 67.20 that is acting as a strong resistance the pair will correct further till the levels of 66.70 so intraday rise shall be utilized to sell the pair

Fundamental Overview

US dollar index is trading at 95.46, depreciating marginally as the US FED limited its policy based on market expectation. There was no rate hike announced but the possibility of a December rate hike remains on the cards. US dollar sold off against the majors but the losses are likely to be limited at these levels. We expect some recovery in the US session.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Initial Jobless Claims 262K 260K
19:30:00 USD Existing Home Sales (MoM) (Aug) 1.10% -3.20%
19:30:00 USD Existing Home Sales (Aug) 5.45M 5.39M
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