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22 Jul 2019

USD/INR technical analysis: 69.30 becomes the level to beat for buyers

50-DMA, 9-week old descending trend-line questions the USD/INR pair’s latest recovery.
68.25/30 continues to be the key support.

The USD/INR pair’s recovery from multi-month lows struggles to find the traction as it trades beneath crucial resistance-confluence, near 69.00, heading into Europe open on Monday.

The 50-day moving average (50-DMA) and more than 2-month old descending trend-line question the buyers around 69.30 with gradually rising 14-day relative strength index (RSI).

Should prices rise past-69.30, 23.6% Fibonacci retracement of October 2018 to July 2019 downpour around 69.85 and 70.00 round-figure could flash on bulls’ screen.

Alternatively, 68.60 and 68.25/30 holds the key to the pair’s fresh south-run towards sub-68.00 area.

USD/INR daily chart

Trend: Pullback expected

Jul 22, 2019

Key event risks in the week ahead – Westpac

Analysts at Westpac enlist key economic events to watch out for in the week ahead, with the key focus likely to be on the UK politics and European Cen

Leveraged funds were net buyers of USD for the second week - ANZ

The Australian and New Zealand Banking Group (ANZ) analysts offer their take on the fx positioning data for the week ending 16 July 2019. Key Quotes: