The Indian Rupee (INR) weakens on the modest recovery of the Greenback on Thursday, snapping the two-day winning streak.
The India n Rupee loses traction in Thursday’s Asian session. The fear of wider Middle East conflicts, renewed US Dollar demand and higher crude oil prices undermine the INR. All eyes will be on the RBI’s MPC interest rate decision on Thursday, with no change in rate expected. The India n Rupee weakens on the modest recovery of the Greenback on Thursday, snapping the two-day winning streak.
00 psychological barrier. A decisive break above this level could draw in enough buying pressure to test the next hurdle at 84.50. In the bearish case, the initial contention level to watch is the uptrend line around 83.80. If the price breaks below this level, it would signal a more significant downside towards the next support level near the 100-day EMA at 83.50.
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