- Analytics
- News and Tools
- Market News
- USD/INR: Decline could extend towards 80.00 on a break below trend line at 80.70/80.50 – SocGen
USD/INR: Decline could extend towards 80.00 on a break below trend line at 80.70/80.50 – SocGen
USD/INR has so far defended the ascending trend line since February now at 80.70/80.50. A break below here would expose the 80.00 level and the 200-Day Moving Average (DMA), analysts at Société Générale report.
82.10 is acting as an interim resistance
“Currently a bounce is under way however neckline of the pattern at 82.10 is acting as an interim resistance.”
“Daily MACD is in negative territory denoting prevalence of downward momentum.”
“Holding below 82.10, a revisit of the trend line near 80.70/80.50 is not ruled out. In case this gets violated, the decline could extend towards 80.00 and perhaps even towards the 200-DMA at 79/78.50.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
