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Dealmoney - Commodity Daily - 11-Mar-20	Download pdf

USDINR
USDINR have sustained at the all time high of 74.50, before retracing back. The momentum indicator RSI retracing from 86 & currently at 80, supportive of the bullish bias but with limited upside. The immediate support for USDINR is 73.60/73.00, meanwhile the immediate resistance of 74.50. With the above analysis, we expect the bullish momentum to continue and buy on dips strategy should be used, as our positional call from the level of 73.40 for the target of 75.50/76.50 & with the reversal below 71.75.