JohnSikes73

USDINR - 75.2 Support

Short
OANDA:USDINR   U.S. Dollar / Indian Rupee
75.2 have been acting as a support for USDINR . Expected breakout within next two sessions.

Comments

Wrong analysis
Reply
JohnSikes73 nabilprithvi
@nabilprithvi, it was because FED had a press release. This reaction is due to the dismal GDP forecast for 2020 (at -5.9%). This is a temporary reaction. With FEDs reassurance about buying more corporate bonds and mortgage securities, there will be enough liquidity to shed the greenback and gravitate towards riskier assets. Still betting on USDINR landing in a range of 75.5-75.6 on 20th June (monthly option expiry).
+1 Reply
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