Currencies
FRIDAY, NOVEMBER 11, 2022
Rupee
Rupee
USD/INR
CMP-$80.89 (11.11.2022)- VIEW POINT
Rupee closed @$ 80.89 as on 11.11.2022. It has achieved my all Overall Medium term targets levels around $ 83 levels. It has made a high of $83.32 levels so far in this rally. It has broken crucial support of $81 levels in short term. It looks like strong case for short term reversal. One can expect targets around $79 levels in short term till it reverses. $83 is reversal levels for the same. One can expect INR to appreciate against USD in short term.
It has strong support around $ 77 levels from medium term perspectives. Break of it will give final confirmation of medium term reversal of USD/INR.
Conclusively, above $83 will only change overall view till that one can expect INR to appreciate against USD. On the down side $77 will be a final confirmation for medium term reversal levels.
One should watch out its behaviour in coming days & near target range of $79 levels in short term & also further evidences about medium term trend.
USD/INR
CMP-$80.89 (11.11.2022)- VIEW POINT
ALL MEDIUM TERM TARGETS ACHIEVED:
EXPECT USD/INR TO APPRECIATE IN SHORT TERM TOWARDS $79 LEVELS:
MEDIUM TERM REVERSAL LEVELS TO WATCHOUT AROUND $77:
ABOVE $83 WILL ONLY CHANGE OVER ALLVIEW TILL THAT ONE CAN EXPECT INR TO APPRECIATE AGAINST USD
It has strong support around $ 77 levels from medium term perspectives. Break of it will give final confirmation of medium term reversal of USD/INR.
Conclusively, above $83 will only change overall view till that one can expect INR to appreciate against USD. On the down side $77 will be a final confirmation for medium term reversal levels.
One should watch out its behaviour in coming days & near target range of $79 levels in short term & also further evidences about medium term trend.