Indian rupee continued its 9-day winning streak despite mid day volatility - Geojit Financial
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* Indian rupee continued its 9-day winning streak despite mid day volatility.
* Gold price recovered early losses to close above $1800.
* Crude futures rose towards $80 as global supply outages and declining US inventories are expected to balance the fall in demand caused by Covid-19.
* 10 Yr. US treasury yields rose as investors assessed the impact of the Omicron variant.
OUTLOOK - USDINR
The strong bearish bias indicated by the streak of lower highs and lower lows persisted yesterday as well breaching and has set the trend firmly enroute 74.4. Yesterday’s breach of.75 gave brief hopes of short covering, but could not sustain, which forces us to wait for 74.4 for a relief from the current downmove.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
