Mtechtips MCX-SX USDINR INTRADAY trading analysis 18-05-2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 18-05-2016
MTECHTIPS :- Dollar/rupee opens up around 67.1025 while the dollar index traded marginally up Wednesday after the data showed US consumer prices recorded their biggest increase in more than three years in April.Technically, Sell strategy given around 66.90-67.00 was initiated but yet to test target 66.75. Short term outlook is expect to remains bearish following the downside consolidation below the resistance of 67.30 and its expected that any rise towards 67.00-67.15 could attract selling activities for the target of 66.75-66.60 unless pair gives a closing above 67.301.
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