USDINR: A short term resistance on a hourly chart is seen at 72.65-70 mark. A single candlestick reversal Inverted Hammer is also formed at the top of the supply zone.
Our Preference: – Sell at 72.60-65
Target – 72.10
Stop loss – 72.80.
EURINR: After a steep surge the pair started consolidating at its short term resistance on hourly chart. Momentum indicator RSI(14 period) is in overbought area – signalling the pair to reverse for intraday.
Our Preference: – Sell at 84.50-55
Target – 84.20
Stop loss – 84.65