USD/INR (U.S. DOLLAR/INDIAN RUPEE)

/0 Comments/in , /by

USDINR II

Another emerging market currency that is weakening against the U.S. dollar is Indian rupee. Recent update on the 7th of May drew attention to the possibility of a strong breakout from the low volatility period. USD/INR is now close to 55 levels; last minor resistance before the cross rate targets 56-58 area. Technical outlook is bullish for the U.S. dollar.