The Indian Rupee (INR) loses traction on Wednesday.
The India n Rupee softens in Wednesday’s Asian session. Sustained portfolio outflows and geopolitical risks could weigh on the INR, but RBI interventions might cap its downside. Investors await the speeches from the Fed’s Cook and Bowman on Wednesday. The India n Rupee loses traction on Wednesday.
45 acts as an immediate resistance level for USD/INR. A break above this level could pave the way to the 85.00 psychological level. In the bearish case, any follow-through selling below the resistance-turned-support level at 84.35 could be enough to attract some sellers and take the pair back down to the 84.00-83.90 region, representing the round mark and the 100-day EMA.
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