Indian Rupee fell in early trade as local shares followed weak cues from global market leading to foreign fund outflows. But anticipated capital inflows from a large company and lower oil prices are expected to curb currency's fall.
Tech Outlook:
USDINR is expected to trade in the range of 44.19-44.42 levels for the day. With good support seen at 44.15 levels and key resistance is seen at 44.45 break of which will see 42.58 levels. Chart pattern indicates a mixed note for the day as stochastic is seen flat though in overbought levels. Currency is expected to give a slight downward correction as it has already tested the Upper Band levels.
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