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Mtechtips MCX-SX USDINR INTRADAY trading analysis 11-09-2015

Mtechtips MCX-SX USDINR INTRADAY trading analysis 11-09-2015
Mtechtips Dollar/rupee opens at one-week low around 66.60 and tested 66.5175 earlier as conflicting economic data from the US raised uncertainty about the Fed rate hike at policy review next week even as firmness in Asian and US Stock market following relatively stable Chinese stocks.USDINR retraced from the day high 66.98 and tested 66.6250 before closing at 66.63 levels. Short term trend has been shifted under consolidation phase in between 66.45-67.00 levels and sell on every rise towards 66.90-67.00 could expect until the pair cross above 67.20 resistances.However, down side move could be limited as there is a major support area around 66.45-66.35 where reversal may take place in the near term.
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