USD to INR Forecast 15th Feb 19
USD to INR pair is moving perfect in line with our forecast. USDINR pair is currently in a corrective phase but eventually based on my forecast I expect USDINR to move above 75 but in the very near term there could be some more volatility within the range of 72.30-70..30
This is what we had mentioned on our website in our previous USD to INR Forecast / prediction update.
“From a near term perspective we see that there is resistance for USDINR pair around the 72.16-71.62 and the near term support for usdinr pair is around the levels of 70.78-70.30 keep in mind that the overall trend in usdinr pair is higher”
Till the time 70.30 is intact on the downside and 72.16 is intact on the higher side we do not see any major trending move in case 70.30 is taken out then we could have a bit more of a pullback but we do not expect USDINR pair to sustain on the lower side. There are too many problems on the fiscal and cad side and hence we do not see rupee sustaining lower.
Good Trading To You!