#USDINR @ 81.5770 to challenge crucial support zone at 80.50/79.80 – SocGen
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The USD/INR pair has embarked on a phase of pullback after forming a lower high at 82.95. Retest of 80.50/79.80 could follow, economists at Société Générale report.
“Break below the trend line since last February affirms a short-term down move is taking shape.”
“Failure to reclaim 82.95 would mean continuation in phase of correction.”
“A retest of November low and projection at 80.50/79.80 is expected. This could be a significant support zone.”
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