Fundamental Aspect:-
From couple of week foreign inflow keeps Rupee on front foot against greenback, despite Brent Oil price maintaining bullish momentum as well as Dollar firm against major peers.
Rate cut anticipation as well as General Election 2019 announcement can fuel volatility.
USDINR advancement main hurdler is Brent Oil rally that'll spoil the momentum.
The forex reserves stood at USD 401.776 billion in the reporting week.
Technical Aspect:-
USDINR trading well below from 200 DMA & 50 DMA.
RSI as well as Stochastic indicates market is in oversold trajectory.
WEEKLY PROJECTION – 71.39 (70.65 – 69.49) 69.07
TREND - BEARISH TILL HOLD 70.65
Events effect rupee this week:-
BRENT OIL MOVEMENT
USA RETAIL SALES / INFLATION / GOODS ORDERS
BREXIT VOTES
CHINA INDUSTRIAL OULPUT
FII MOMENTUM
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