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Published on 23/10/2020 3:57:21 PM | Source: Emkay Global Financial Services Ltd

The USDINR spot is trading in a narrow range By Mr. Rahul Gupta, Emkay Global

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Below is the Views On The USDINR spot is trading in a narrow range By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services:  

“The upbeat US economic data is downplaying the need for a fiscal package but overall the volatility will remain heightened amid back and forth stimulus negotiations. The USDINR spot is trading in a narrow range with an upward bias. As we get close to the US election day, uncertainty over the outcome will keep USDINR spot afloat. We expect 73.40 to act as an immediate support, only a break will weigh towards 73.20 zone, while, 73.90-74 will act as an immediate resistance.”

 

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