Check out the USDINR Outlook for September 2022 here:
August trading reached a high of 80.1400 yesterday, which tested apex values seen in the second week of July. of July which touched the 80.2200 level momentarily was not seriously threatened yesterday, but the result highlighted the rather large track of territory theof August the USD/INR tracked to a low of nearly 78.3770 which it had last experienced on the 28After starting August with a bearish trend which picked up steam on the 27A strong surge of buying erupted and a high of around 79.
The rather wide range of the USD/INR may continue to see sweeping quick hitting trends and sharp reversals in the coming weeks if global markets remain nervous.Simply following the massive trend upwards in the USD/INR may seem easy to understand, but actually taking advantage of the swirling values is much more difficult.
under the present conditions may be a solid way to speculate, but it carries risks too. Reversals can develop quickly in the USD/INR.. If this area proves vulnerable the USD/INR could see a move towards the 79.4000 vicinity rather quickly. The global financial markets are nervous and this is being reflected in the USD/INR as it traverses near its upper values and sometimes experiences sharp reversals lower when financial houses likely believe the currency pair is overbought.
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