Currency Outlook 10April2020

 USDINR futures opened lower with gap in the last session and prices recovered gradually for most of the session till high of 76.79.

 Overall, prices have been consolidating in the range of 76.00- 76.80 levels since last one week.

 RSI (14) and MACD (12,26,9) have shown negative divergence on the daily chart.

 Therefore, prices can correct from these levels if break below its short term rising trend line support currently near 76.30 level towards next strong support placed around 75.00 level.

 However on the contrary note, prices can rise further from these levels if break above its immediate resistance of 76.83 level towards next resistance placed around 77.43 level.

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