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Range Bound Motion as Speculative Sentiment Firms

The USD/INR has seen a tighter trading range emerge in the past week and a half as behavioral sentiment has become more tranquil.

The USD/INR has demonstrated a rather polite price realm in the past week and a half.  After nearly hitting the 82.7100 ratios on the 22nd of March, the USD/INR has produced lower prices and its range has become calmer allowing day traders an opportunity to consider a more comfortable speculative landscape. Certainly, risk management as always is a must when trading the USD/INR, but the price ratios of 81.9900 to 82.5000 have produced rather firm support and resistance.


The USD/INR started yesterday’s trading with some strong buying as the currency pair essentially correlated to the broad Forex market.  Having seen a low of nearly 82.0100 early on Friday after producing a small selloff, Monday’s start showed financial houses may have believed the USD was too ‘weak’ before going into the weekend. However, as yesterday progressed the USD/INR then began to trade lower again, displaying a rather solid working range was still in effect.

The USD/INR opened trading this morning with a rather quiet landscape as early volumes did not exhibit a wide gap of values. The USD/INR is trading near the 82.1950 vicinities as of this writing and this is keeping support levels of 82.1600 to 82.1400 within sight. Because of the rather tranquil range in the USD/INR traders may consider speculative wagers that try to take advantage of quick-hitting targets.

Trading conditions within the USD/INR should be monitored closely for the potential of faster price action development. Speculators should not get lulled into believing quiet conditions will continue in the USD/INR too much longer, while today may prove to be rather serene, it should be remembered U.S job numbers and earning statistics will be published on Friday.

  • Because of the Good Friday holiday, this coming Friday financial houses may position their trading positions on Thursday.  
  • Opening the door for speculative conditions to become rather violent on Friday, as light trading volume allows for the results from the U.S Non-Farm Employment Change and Average Hourly Earnings numbers to cause havoc.

While conservative traders may find the USD/INR rather tranquil in the short term, they should know the potential for strong price velocity to suddenly erupt exists.  Risk management should include stopping losses and taking profit orders to make sure trades are protected. The price range of the USD/INR currently being displayed may remain dominant near-term and then vanish quickly as the U.S. jobs numbers draw closer. The results of the U.S. employment statistics may end the current price range the USD/INR has displayed the past week and a half.

Current Resistance: 82.2260

Current Support: 82.1750

High Target: 82.2980

Low Target: 82.1250


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