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Narrow Ranges Persist

INR

USD/INR continues to sit a narrow range with little follow through on moves.

  • On Friday USD/INR is a touch lower than yesterdays closing levels and is testing the 20-Day EMA (82.1936) in early dealing.
  • 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, 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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