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Mtechtips MCX-SX USDINR INTRADAY trading analysis 06-08-2015

Mtechtips MCX-SX USDINR INTRADAY trading analysis 06-08-2015
MTECHTIPS Dollar/rupee ended flat Wednesday on likely inflows into the local shares after the Reserve Bank of India lowered its inflation target indicating room for rate cuts amid fears of a Federal Reserve rate hike after comments from an official. After hitting a high of 64.225 in morning trade USDINR saw small pull down and settled at 64.03 levels. Near term trend may remain negative in USDINR and correction is expect to come below 64.00 or on rise towards 64.25-64.30 levels with stop loss 64.45.
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