Mtechtips MCX-SX USDINR INTRADAY trading analysis 11-05-2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 11-05-2016
MTECHTIPS :- USD-INR has turned neutral since 27 April 2016 and squeezed in a cluster of support 66.55 and immediate resistance of 67.00, also struggling to break this consolidation range.With that in mind, USD-INR expect to continued its short term consolidation unless it give either side break, and any rise towards 66.95-66.15 is appear to set short term selling activities.Strong resistance is seen above 67.30 on closing basis and USDINR would need to trade above these levels in order to test 67.55-67.80.
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