NiveshDaily Currency | November 13, 2014

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USDINR ( November Future)
Succinct Summary of Previous Day
Dollar/rupee traded slightly negative on Wednesday on
increased overseas inflows into local shares in anticipation
of further easing retail inflation may prompt the Reserve
Bank to cut rates and thereby help revive investment.
Technical Review
USDINR traded within the range of 61.80-61.60 for fifth
consecutive session and closed at 61.66 levels. A negative
cross over in between RSI 14 and its 9 period SMA is
signaling for short term correction in days to come. A break
below 61.60 levels could result in test of 61.45-61.20 levels
else pair may trade in between the range of 61.80-61.60
levels.
Risky traders may sell below 61.60 target 61.45/61.20 stop
loss 61.75.

EURINR ( November Future) 

The euro slipped against the dollar on Wednesday, after 

data showed that industrial production in the euro zone 

rose less than expected in September, while demand for 

the greenback remained broadly supported. 

Euro zone Sep industrial production at 0.6% vs -0.5% YoY 

Technical Review: 

After made a high of 77.072, EURINR saw a pulled down 

towards 76.66, and remained far of our previous day

predicted downside target of 76.55. In near term sell on 

rise could be expected towards 77.00, unless pair gives a 

closing above 77.15. Intraday traders may sell EURINR 

77.00-76.98 target 76.80-76.55 stop loss 77.15(CMP 

76.96)

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http://www.indianivesh.in/Admin/Upload/635514663318255000_Nivesh%20Daily%20Currency%2013%20Nov%202014.pdf