#USDINR @ 82.855 : Next projections are located at 84.20 and 85.90 – SocGen
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The Indian rupee slipped to a fresh record low of 83.21 against the US dollar on Wednesday. The USD/INR could now target 84.20, then 85.90, economists at Société Générale report.
“Weekly MACD is close to the high achieved in 2020 and diverging away from trigger line denoting an overstretched move, however, signals of a meaningful pullback are not yet visible.”
“Next projections are located at 84.20 and 85.90.”
“Low formed earlier this week at 82.00 must be defended to avert a short-term down move.”
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