Nivesh Daily Currency | December 22nd 2014 :: IndiaNivesh

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USDINR (December Future)
Succinct Summary of Previous Day
Dollar/rupee rebounded Friday on demand from oil
importers and as dollar hovered near five-year high
after better than expected US jobless claims data.
The dollar index which tracks the strength of the
greenback against six major currencies rose after
better than expected US jobless claims data and
traded at 89.34 compared with 89.02 at close during
New York closing time.
Technical Review
After hitting a low 63.10, USDINR saw a small recovery
towards 63.4250 levels and settled with gain of 0.26%.
Today, USDINR may show 63.59-63.60 levels and it’s
expected that any bounce back towards 63.90-64.00
could bring huge selling in the pair in days to come
unless it give a closing above 64.20.
Recommendation
 Sell on rise towards 63.55-63.60 Target 63.20-63.02
stop loss 63.75. (CMP 63.27 levels).