Superior broker technology provider since 2010
+1 (315) 675 1086 | Sales@YourOwnBrokerage.com

Steady Speculative Highs as Risks Remain in Focus

[ad_1]

The USD/INR has maintained the higher elements of its near-term price range, as cautious trading remains steady while global risks are in focus.

The USD/INR is near the 82.6300 vicinities as of this writing with price velocity rather fast and quick changes in value being demonstrated.  Although trading volume in the USD/INR is a distance away from the larger currency pairs of the financial world, the Indian Rupee is certainly growing in stature. The volatility the USD/INR has displayed this week as worries about global banking exposure and what moves the U.S. Federal Reserve will make next have highlighted a cautious approach.

Advertisement

image

This past Monday the USD/INR was near a low around the 81.6450 mark, which interestingly came within sight of depths from the previous Monday on the 6th of March when the Forex pair touched the 81.5770 ratios. The move higher this week has certainly developed as global Forex conditions have lacked clarity and perhaps a flight to ‘safe’ financial assets has been a mantra for financial institutions.

The USD/INR is within the higher elements of its price range, but in early trading this morning the currency pair has reversed slightly lower. Yesterday’s highs near the 82.8780 level certainly came within sight of USD/INR prices displayed in the last week of February, when a high of approximately 82.9760 was hit. However, the USD/INR attained yesterday’s higher values when extreme nervousness was slamming through financial institutions as fears about Credit Suisse and European banking exposures were causing volatility throughout the global marketplace.

  • Global market conditions have calmed the past ten hours on the news the Swiss government will help Credit Suisse with financial banking.
  • This has helped the USD/INR trade in a calmer manner.
  • Unknown risk events are still a threat to the USD/INR as banking concerns will remain in focus today and tomorrow. Traders must be braced for volatility and have their risk management working at all times.

Yesterday’s violent gap upon opening in the USD/INR certainly was caused by nervous sentiment ripped through the global markets. If more tranquil trading conditions can be found today and the USD/INR remains near the 82.6300 to 83.6100 ratios, there is a reason to suspect the currency pair may be able to achieve additional downside in the near term.

However, conditions do remain tricky. Although U.S. inflation data was weaker than anticipated and other economic numbers yesterday may have eased the burden on the U.S. Federal Reserve to hike interest rates next week, the questions about the global banking industry and exposures remain a dangerous concern. Traders need to monitor developing news and if they want to pursue the USD/INR today and tomorrow it should be done cautiously.

Current Resistance: 82.7080

Current Support: 82.5790

High Target: 82.8110

Low Target: 82.3710

USD/INR

[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *

YourOwnBrokerage is a leading Technology & Business Consulting firm with a specialized focus in Fintech industry.


RISK WARNING: Trading products are highly speculative in nature and carries a significant level of risk which may not be suitable for all investors. Please ensure you fully understand the risks involved and only invest money you can afford to lose. Seek advice from an independent adviser if at all unsure as to the suitability of investing in such instruments.


The content of this website must not be construed as personal advice. We recommend that you seek advice from an independent financial advisor.


The information on this website is not directed to residents of certain jurisdictions where such distribution or use would be contrary to local law or regulation.



© 2009 - 2024 YourOwnBrokerage.com. All Rights Reserved.