usd inr intraday view for 5 june 2015

nse usd inr future is trading at 61.14 with loss of 0.22%. means us dollar is seeing profit booking while Indian rupee is seeing some buying from oversold area. in intraday usd inr future hit high around 64.29 while usd inr future intraday low was at 64.12 and trading at it. today 665992 trading volume seen until now in usd inr future .
technically on daily chart, usd inr future is overbought and correction is due here. 64.1 is strong support if usd inr future slip below it then expect downside of 10-15 paise in intraday on fresh shorting.on upside 64.65 is strong resistance for next week. look like RBI intervention also underway with normal trading.
other currency also down against rupee in intraday. euro lost 1% gains after yesterdays 2% rally. pound also soft and yen resumed its downtrend rally. intraday traders must watch dollar rupee future 64.1 levels for intraday trading.

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Pramod Baviskar

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