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Dealmoney - Commodity Daily - 12-Mar-20	Download pdf

USDINR

USDINR is testing the all time high of around 74.50, however if the price closed above the level of 74.50 we could witness the levels of 75/75.5. The momentum indicator RSI retracing from 86 & currently at 77, still supportive of the bullish bias. The immediate support for USDINR is 73.60/73.00, meanwhile the immediate resistance of 75. 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.