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Dealmoney - Commodity Daily - 16-Jan-20	Download pdf

USDINR

• USDINR after making recent top of 72.44, is in the hand of bears

• In last week price has slide to low of 70.80 levels

• If one looks at daily chart, it shows the strength of bears in form of prominent negative candles

• Pair which gave breakout from the range has again moved well below 50 DMA and heading towards lower support of 70.60

• We expect further fall and lower levels of 70.60 - 70.30 to get tested soon