USDINR: A Short term double top is seen on 30 minutes chart, suggesting a intra-day fall in USDINR. RSI(14 period) turned back from overbought region with a negative price divergence.
Our Preference: – Sell at 74.40-43
Target – 74.25
Stop loss – 74.50.
EURINR: A short term support of 50 period EMA is seen on the hourly chart , and the pair seems holding the support zone. RSI (14) is trying to inch back towards 70 zone from 50 mark.
Our Preference: – Buy at 85.65
Target – 85.95
Stop loss –85.50