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Rupee Little Changed On Thursday

INR

The Rupee is little changed from opening levels, ranges have been narrow today and the drop in Oil prices has not yet weighed on USD/INR. Oil prices as Asian participants digested Wednesday's news of a delayed OPEC meeting, WTI is down ~1%.

  • USD/INR prints at 83.3300/75.
  • The uptrend in USD/INR remains intact, bulls target 10 Nov's cycle high (83.50). A break through here opens 83.9316, a Fibonacci projection. On the downside bears immediate focus is on the 83 handle. The 200-Day EMA comes in at 82.4335.
  • A reminder that the local docket is empty this week.

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