Daily Forex Report by www.epicresearch.co 24th January 2013

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indore, India (prHWY.com) January 23, 2013 -  HEADLINES

USD/INR at day's lows on euro, flow-related selling USD/INR slides back towards the day's low helped by gains in the euro and fund flow-related dollar selling, say dealers. The pair is at 53.65/66 after rising to 53.88, versus 53.81/82 at last close.

Rupee washes out initial gains vs dollar; still up 3 paise

The rupee today failed to maintain initial gains, but was still quoted higher by three paise to 53.79 against the American currency in the late morning trade on mild selling of dollars from banks on the back of persistent capital inflows amid weak global cues. The rupee resumed higher at 53.68 per dollar as against yesterday closing level of 53.81 at the Interbank Foreign Exchange (Forex) Market and moved up further to 53.66.


 TRADING TIPS

 SELL USD/INR
BELOW 53.64
FOR TGT
53.52/54.40
SL 53.84
PAST
PERFORMANCE


* BUY USD/INR


BELOW 53.75
FOR TGT
53.88/54.05
SL 53.55
TARGET ACHIEVED

ANALYSIS
OPEN: 53.6975
HIGH: 53.8800
LOW: 53.5725
CLOSE: 53.6400
* USD/INR LOOKS SIDEWAYS
* TREND: CONSOLIDATED
* STRATEGY: SELL ON RISE


ANALYSIS


OPEN: 71.5000

HIGH: 71.7150

LOW: 71.3900

CLOSE: 71.5325

* EUR/INR LOOKS SIDEWAYS

* TREND: CONSLODATE

* STRATEGY: SELL ON RISE

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