The INR has rallied recently against the USD and will continue in its bull run if it trades below the 53.7558 mark, the immediate resistance being at 53.7010, 53.6522 and 53.5972. However only if it trades conclusively below the critical resistance at 53.2835 can it be said to move towards the 51.9078 mark.
On the flip side, it may find supports at 53.7721, 54.1975 and 54.7272.
Our outlook for the INR is that it may strengthen a bit more against the USD but will continue to trade in a range between 51.9078 and 55.1515 unless a confirmed breakout happens in either direction.
On the flip side, it may find supports at 53.7721, 54.1975 and 54.7272.
Our outlook for the INR is that it may strengthen a bit more against the USD but will continue to trade in a range between 51.9078 and 55.1515 unless a confirmed breakout happens in either direction.
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