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Marginally Firmer Start For Rupee, Within Recent Ranges


The Rupee has opened dealing a touch firmer on Tuesday, USD/INR remains well within recent ranges as moves have had little follow through.

  • USD/INR is ~0.1% below Monday's closing level and last prints at 83.2150/2250.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 20-Day EMA (83.1788), a break through here opens the 83 handle.
  • A reminder that the local data docket is empty until 31 October when September Fiscal Deficit and Sep Eight Infrastructure Industries cross.

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