USDINR Trade Idea - 21 Aug

USDINR Trade Idea - 21 Aug

21 Aug 2019 09:36 AM

USDINR:- The pair faced a trend-line resistance on hourly chart at 71.80 mark. Prices revered after an attempt towards 71.80 - yesterday's high. Currently the pair is trading below its short term moving average of 8 period (at 71.64). Bearish divergence is clearly visible in RSI(14) - lower highs in RSI followed by higher highs in price action.

Our Preference:- Sell at 71.62

Target- 71.37 and 71.28

Stop loss- 71.76