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Mtechtips MCX-SX USDINR INTRADAY trading analysis 19-08-2015

Mtechtips MCX-SX USDINR INTRADAY trading analysis 19-08-2015
MTECHTIPS Dollar/rupee traded near two-year high, while the dollar index rose for the fourth straight day Wednesday on upbeat economic data from the world’s largest economy thereby raising hopes of a rate hike by the US Federal Reserve as early as September.Also, safe haven appeal for the dollar increased after the Chinese stocks tumbled 6% on Tuesday on concerns that the companies in the world’s second largest economy may report dismal earnings and as economic growth slows down in the country.USDINR continued its recent bullish trend and tested 65.51 before closing at 65.48, up 0.51%. A long bullish candle formation on EOD chart is yet indicating for upside move in days to come. Today, any correction towards 65.20-65.25 is expected to attract huge buying activities for the target 65.70 levels..
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