Tuesday, 29 January 2019

Appreciating AUD heading towards 1.3774 against US Dollar

USDAUD has turned lower sharply after correcting 61.8% Fib. Retracement level to the rally started from 11th of  Jan’19 suggesting that overall weakness is still intact.
oThe upper band of the Bollinger band is seen moving lower in line with the lower band suggesting negative momentum is in place.
oAt momentum front both RSI (14Pd ) and Stochastic (14/3/3) are seen turning lower after testing equilibrium region supporting the negative bias.
oGoing ahead USDAUD is likely to hold below 1.1413 and trade lower towards 1.3774.

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Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.