USD/INR is battling the 50-Daily Moving Average (DMA) at 74.00. As long as the pair holds above the 73.50 mark, an attack to the April peak at 75.57 should be expected, economists at Société Générale report.
Pullback limited
“USD/INR is probing its 50-DMA near 74.00. A large downside is not envisaged.”
“Holding above 73.50, it is expected to inch higher towards 75.20 and April peak of 75.57. This could be an important hurdle.”