USD to INR Forecast today 23-1-19
USDINR is moving perfectly along expected lines and in line with our forecast and prediction. Yesterday we had clearly mentioned that USDINR has resistance around 71.62-72.16 and USDINR has started giving a pullback perfectly from that area. Now based on my USD to INR forecast / Prediction we see that there is a support area around 70.30 area and we do not see USDINR moving much lower from these levels.
We see USDINR eventually moving above 75 however in the very near term we could see a higher bottom formation taking place around 70.30 area so importers must book their open positions on any possible dip towards 70.30. In case you would like support for hedging strategies please feel free to get in touch with us and our innovative hedging strategies will ensure that you do not have to pay a carry a premium in buying the dollar. As most importers are well aware there is a carry cost for hedging of around 0.30 ps per month and we have some strategies which will reduce that to 0 so effectively your carry premium will just be the broking charges of the contract.
Good Trading To You!