USDINR: USDINR closed flat in a volatile session with intraday volatility of 33 paisa from high to low. The pair opened negative, remained volatile with a down trend during the session, but later recovered and closed near the session high at closing, currently quoting higher at 81.75 (in OTC). Technically, the pair in an uncharted territory are in a short term overbought zone with no correction from 79.97 levels, if 81.7 sustained, the pair target 81.87 in the short term. Intraday, the pair may find support around 81.59 and resistance around 81.83. RSI is now above 70. Globally, the dollar index remained strong, closed positive on Tuesday and opened negative on early Wednesday, oil remained below $80. Meanwhile Asian currencies opened negative in the early morning. On an immediate basis 81.61 remained in support and 81.75/81 resistance for the pair. All Spot Levels. #Forex
Reversal in USDINR pair possible.