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Rupee Trims Mondays Gains

INR

The Rupee has trimmed Monday's gains in early dealing today, broader greenback trends are dominating today and USD/INR is up ~0.1%.

  • The pair last prints at 82.80/81, Friday's highs remain intact for now.
  • Technically USD/INR remains in a strong uptrend, bulls look to breach Fridays highs (82.8475) to target the 83 handle. Bears focus on the 20-Day EMA (82.27) to turn the tide.
  • The highlight of the week is the RBIs latest monetary policy decision tomorrow no change to policy is expected.
  • Further out Industrial Production also crosses on Friday, and is expected to tick lower to 5.0% Y/Y from 5.2% Y/Y.

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