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USD/INR Firms Above 20-Day EMA

INR

On Thursday USD/INR rose ~0.1% and finished dealing above the 20-Day EMA (83.1916) as broader USD flows dominated yesterday's dealing.

  • At the open on Friday the pair sits in line with yesterdays closing levels at 83.22/23.
  • 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).
  • Looking ahead, the next release of note is on 31 Oct which is Sep Fiscal Deficit and Eight Infrastructure Industry Survey. Next week also seeing S&P Global Mfg & Services PMI cross.

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