USD/INR technical analysis: Rupee looks south as India's GDP hits 6-year low
UThe path of least resistance of the Indian Rupee is to the downside.
The Indian unit rose well above 71.60 on Friday, confirming a falling channel breakout on the USD/INR's 4-hour chart. The pattern indicates the pullback from the Nov. 14 high of 72.24 has ended and the rally from the Nov. 4 low of 70.549 has resumed. Read more ...
USD/INR steps back from one-week high amid optimism surrounding China PMI
With the Asian markets cheering China data, USD/INR pays little heed to the previously published India GDP while taking rounds to 71.70 as Indian markets open for Monday’s trading session.
China’s November month factory activity numbers defy recent doubts over the strength of the world’s second-largest economy. As a result, markets in Asia turn risk-on while also ignoring clues of a delay in the trade talks between the United States (US) and China. Read more ...
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