USDINR September opens sharply low today, trading at 71.9050, down 0.0975 or 0.14% as US-China Trade optimism fuelled the rally in the riskier assets.
Upside Key Resistance is at 72.63, above which only prices will resume UP Trend.
Downside Key support is at 71.40 below which prices will move towards 70.80.
USDINR Spot key support is 71.35 and resistance is 72.41, break of this range will set fresh directional move.
Prices are likely to remain in 71.40 -72.20 band in Today’s session.
Medium-Term Trend is "Buy" and Key Reversal Point is 70.78.
US Dollar Index has fallen recently on reduced safe haven demand.
Looking forward, Today India’s FM will announce further round of fresh measures to combat the economic growth. Any big fiscal policy announcement will be cheered by the domestic markets and will lead to further recovery in the domestic currency.
Story by Shelly Airan for tarunsatsangi.com