USDINR REPORT 2 JULY 2020

USDINR REPORT 2 JULY 2020

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USDINR SPOT

Range: 74.40-75.3

Our Preference: Sell  74.96 for the target 74.4 with risk only below 75.12

 

Fundamentals: 

India has a block of most of the Import from China  which has a large number of forex deal which has been saved by  the Government which will have increased  in FOREX  reserve and will cause  the USDINR to get stronger in the coming days may be nearly 72.8 around.

Technical Point of view:

74.39 is a big support for USDINR which can bounce till 75.7 & 76.4  again. But the day when it will break it moves towards 72.8 only.

 

 

 

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