USDINR is witnessing the bouncing back and manages to hold its 50 DMA - Swastika Investmart
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CURRENCY OUTLOOK
DAILY CURRENCY MARKET UPDATES
NEWS IN HEADLINE:
* Japanese yen breaches 150, intervention in focus
* Dollar up as risk sentiment sours, Treasury yields rise
* Asia FX weakens, yen on intervention watch after breaching 150
OUTLOOK:
USDINR: USDINR is witnessing the bouncing back and manages to hold its 50 DMA; however, 83.25 is an immediate and minor hurdle; above this, we can expect a short covering move towards the critical resistance of 83.30–83.35; on the downside, 83.10 will be the first support area below this 83.00 act as a final support level.
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