AnbHfund

USDINR: Can it break this Support !!

FX_IDC:USDINR   US DOLLAR / INDIAN RUPEE
69 2 3
USDINR             has been taking its support at this 4 year trendline support (in green) !!
It is getting difficult for INR             to depreciate against dollar i.e. difficult to climb up !!

Are there signs of a major turn around -- where USDINR             breaks this support !!
If this happens that would make the Stock Markets to jump up and a correction in IT & Pharma             Companies !!

Till them it's Wait & Watch !!
Chinese Yuan depriciation gives another trigger for INR devaluation!
Will USDINR breakout and depreciate INR further?
Reply
Indeed this is the big question that I started discussing in my previous post:
Range bound Long till March 2016


Global events and financial activities by India Inc are giving hint of depreciating USD against INR.
Market can see one or more bounce backs in USDINR before the downtrend begins.
+1 Reply
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