Thursday, January 15, 2009

Rupee crept up on firm stock markets-Jan 16.

Rupee crept up following firm regional stock markets, but gains are likely to be limited by the dollar's strength against some Asian currencies.USDINR chart pattern gives mixed signals and currency is expected to trade in the range of 48.68-48.95 levels for the day. With good support seen at 48.62 levels . key resistance is seen at 49.08 levels. Stochastic is seen trending down and the currency is seen trading below the moving average giving mixed signals only break on either side can confirm the trend.

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