India Rupee Rallies Vs USD

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India Rupee Rallies Vs USD
« เมื่อ: ?Á?Ҥ?14, 2016, 12:45:42 PM »
India Rupee Rallies Vs USD, Reaffirming Chart Cues -- Market Talk

14 July 2016, 05:39


0539 GMT [Dow Jones] India's rupee is modestly stronger Thursday, up 0.2% versus the U.S. dollar so far. More gains could be in store, based on technical chart indicators. The daily USD/INR chart's bearish technical bias has been affirmed, as the pair sinks deeper into the Bollinger downtrend channel and further away from the Ichimoku Cloud resistance zone, which caps at 67.11. The downward-sloping path may lead USD/INR to a near-term target of 66.47--the entrance of the weekly Bollinger downtrend channel. Appeal for high-yielding assets continues to be one of the main drivers for the rupee. In a world of diminishing bond yields, the benchmark 10-year bond issued by India's government still draws 7.28%. Inflows from foreign investors are likely to keep India's rupee on a steady path toward strength, barring any major external event risks. USD/INR is now 66.92 from its Wednesday closing of 67.06. (
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July 14, 2016 01:39 ET (05:39 GMT)

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