USDINR: The pair is trading in a complete overbought situation. RSI (14 period) is hovering above 70 mark in a hourly chart, indicating the prices to reverse .
Our Preference: – Sell at 70.75-80
Target – 70.60 and 70.40
Stop loss – 70.86
EURINR: The pair is trading close to its uptrend line resistance, a negative divergence in RSI is also witnessing the pair to come down a bit.
Our Preference: – Sell at 82.80
Target – 82.50
Stop loss – 82.95