USDINR WEEKLY– 22ND – 26TH APR’19

Fundamental Aspect:-

• Brent & Crude Oil Momentum.

• Bond Yields getting stronger.

• Trade talk between USA - CHINA.

• BOC and CBR Monetary Policy.

• USA GDP (Q1).

Technical Aspect:-

• Technically market is in down trend, 50MA is trading below 200MA.

• RSI support buying

• Stochastic indicate USDINR enter in overbought territory.

• SUPPORT – 68.85 – 69.15 – 69.32

• RESISTANCE - 69.90 – 70.32 – 70.52 – 70.75

WEEKLY PROJECTION – 70.55 (69.92 – 69.20) 68.85

USDINR TREND – BEARISH TILL HOLD 70.55

Events effect rupee this week:-

• USA DATA

• OIL INVENTORIES

• TRADE TALK

• BOND YIELDS