USDINR TECHNICAL OUTLOOK : 29.09.2016

USDINR TECHNICAL OUTLOOK : 29.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE


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Above is the Daily Chart of USDINR, the pair after opening at 66.79and made a high of 66.79 and had a side to weak session after a trending session day before, the pair could not surpass the strong resistance of 67.20 and had given a breakdown of consolidation of 66.95-67.20 (triangle ) few days back so its likely to face strong resistance near 67.00 mark but intraday will see some volatility in the pair

Fundamental Overview

US dollar index is trading at 95.35, appreciating marginally against the majors in a low volatility trade yesterday. Durable goods orders were reported a tad above the market expectations but the key focus was on the speeches/testimonies delivered by FOMC voting members. The tone continued to remain cautiously hawkish and had limited impact on the dollar. Second quarter GDP and pending home sales data, due to be reported today would continue to support the US dollar

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
02:05:00 USD FOMC Member Mester Speaks
04:45:00 USD FOMC Member George Speaks
18:00:00 USD GDP (QoQ) (Q2) 1.30% 1.10%
18:00:00 USD GDP Price Index (QoQ) (Q2) 2.30% 2.30%
18:00:00 USD Goods Trade Balance (Aug) -62.60B -58.78B
18:00:00 USD Initial Jobless Claims 260K 252K
18:20:00 USD FOMC Member Lockhart Speaks 
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