AnbHfund

USDINR: Can it break this Support !!

FX_IDC:USDINR   U.S. 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!
Reply
Indeed this is the big question that I started discussing in my previous post:


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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