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News / Other data

* The dollar remained firm below a two-decade high versus major peers on Tuesday, as investors braced for the Federal Reserve to continue its aggressive interest-rate-hiking campaign to rein in overheated inflation.

* The dollar bulls are unlikely to get toppled anytime soon as the Federal Reserve will likely follow up its widely expected interest rate hike with hawkish remarks this week that may force traders to rethink how high rates could go before peaking.

* The dollar rose against major currencies on Monday, trading within narrow ranges, ahead of a slew of central bank meetings this week led by the Federal Reserve, which is likely to raise interest rates by another 75 basis points (bps).

* The U.S. dollar edged higher Monday, remaining near a 20-year high at the start of a week dominated by a number of central bank meetings, including a crucial Federal Reserve gathering.

* China’s yuan sank further below key levels on Monday after more monetary easing in the country, while broader Asian currencies tumbled in anticipation of a Federal Reserve meeting later this week.

Data inference

* ECB President Christine Lagarde — Speaker

Observation

* On looking at Daily chart of GBPINR, we can spot that the overall trend is on the downside while prices forming Lower Low, Lower High Formation.

* Prices post the breakout from Rectangle pattern have retested the neckline and have created a Downward gap, indicating Continuation in downtrend.

* Prices are currently trading below 20 Days EMA, which is acting as a variable resistance for shorter term price swing.

* RSI is moving in sync with the trend (Lower high, Lower low) which confirms the down move in the trend.

Inference

* Sell Below 90.69 Target 89.54 SL 91.65

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