USDINR: The pair started consolidating at the top of hourly chart and along with that a bearish divergence in RSI (14 period) is seen. Immediate support is at around 70.80 mark.
Our Preference: – Sell at 70.95-70.98
Target – 70.80
Stop loss – 71.03
EURINR: EURINR is trading in a upward sloping trend channel on a hourly chart. At present it is hovering close to its channel resistance and momentum indicators are about the reach their overbought territories.
Our Preference: – Sell at 82.90-95
Target – 82.50
Stop loss – 83.10