USDINR Headed towards 72.50 again

USDINR Headed towards 72.50 again

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Range: 71.72 – 72.50

Our Preference: Buy USDINR Target 72.40 with risk of 71.50

Alternative Scenario: Sell only below 71.50 & sustain for 1 day close & 2nd open for target 70.90 with risk of 71.76

Fundamentals: High tension  between US & IRAN will cause to High Crude oil prices higher. If the same tension will sustain will be more difficult & USDINR will get more weaker.

In a more longer Term scenario can touch more upside 74 Rs again.

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