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Marginally Softer Start, Docket Empty This Week


The Rupee has opened dealing a touch softer, USD/INR a touch firmer last printing at 83.16/17.

  • USD/INR fell beneath the 20-Day EMA (83.1869) on Friday paring recent gains before support came in ahead of the 83 handle.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 83 handle, a break of the handle opens low from 22 Sep (82.8325).
  • RBI Gov Das noted on Friday that the bank needs to be extra vigilant on inflation and needs to see CPI easing to 4% on a sustainable basis.
  • The data calendar in India is empty this week.

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