USDINR has intraday support around 54.07: Fortune Financial

Written By Unknown on Jumat, 09 November 2012 | 14.02

Fri, Nov 09, 2012 at 12:23

Fortune Financial Services has come out with its report on USDINR. According to the research firm, USDINR future contract on MCX are looking positive for intraday. Market may find support near 54.428 , 54.257 and 54.071. Intraday resistance can be seen near 54.786 , 54.972 and 55.143.

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USDINR has intraday support around 54.07: Fortune Financial

Fortune Financial Services has come out with its report on USDINR. According to the research firm, USDINR future contract on MCX are looking positive for intraday. Market may find support near 54.428 , 54.257 and 54.071. Intraday resistance can be seen near 54.786 , 54.972 and 55.143.

Like this story, share it with millions of investors on M3

USDINR has intraday support around 54.07: Fortune Financial

Fortune Financial Services has come out with its report on USDINR. According to the research firm, USDINR future contract on MCX are looking positive for intraday. Market may find support near 54.428 , 54.257 and 54.071. Intraday resistance can be seen near 54.786 , 54.972 and 55.143.

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Fortune Financial Services has come out with its report on USDINR. According to the research firm, USDINR future contract on MCX are looking positive for intraday. Market may find support near 54.428 , 54.257 and 54.071. Intraday resistance can be seen near 54.786 , 54.972 and 55.143.

On Friday, the rupee is likely to open down against the dollar due to global risk aversion. Dollar demand from crude oil and gold importers is expected to weigh on the currency. The overnight movement of the euro will be eyed for further cues. The rupee may move in the range of 54.2000-54.6000 a dollar Friday. The rupee ended down against the greenback today as state-owned banks bought dollars on behalf of crude oil and gold importers. A weak euro and choppy local share indices also weighed on the unit. The euro played spoilsport in the rupee's movement today. The Indian currency was mirroring both losses and gains with the euro, keeping both currencies rangebound and volatile. The rupee shares a strong correlation with the euro. Dollar demand from crude oil and gold companies also weighed on the rupee. However, market speculation of some capital inflows limited the rupee's losses.

USDINR future contract on MCX are looking positive for intraday. Market may find support near 54.428 , 54.257 and 54.071. Intraday resistance can be seen near 54.786 , 54.972 and 55.143. Short term trend is looking bullish Market may find major levels near 10 SMA of 54.3258 and 50 Days SMA of 54.244.

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