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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INR
After dropping to the lowest level since March 2020 post-RBI on Friday USD/INR rebounded, but risk on sentiment has seen INR post gains in early trade on Monday, supported by moves higher in the Nifty and Sensex. USD/INR last down 0.1025 at 72.8250, with sources noting bids around these levels.
- The rate is approaching 2021 lows at 72.7875 hit on January 27, USD/INR bears will look for a sustained break to confirm bullish momentum in INR, next significant support is 72.4075, resistance turned support after the meteoric move higher as the pandemic took hold in March.
- Bulls look to the 50-day moving average at 73.40 initially, then the 23.6% retracement level at 73.72 to confirm an upside move, while 74.00 then comes into play.
USD/INR
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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