19 Nov 2014
Rupee continues weakness - Insignia Consultants
FXStreet (Barcelona) - Research Analysts at Insignia Consultants note global events dictating INR's movements rather than domestic ones.
Key Quotes
"US FOMC minutes can impact rupee and emerging market currencies tomorrow. I am not going to comment more, except that short covering will be there in euro, US dollar in case rupee weakens against them today and tomorrow."
"Usd/inr November 2014 (expiry on 26th November): Head and shoulder formation on the charts. Usd/inr can rise to 62.02 and 62.32 as long as it trades over 61.77. There will be sellers only below 61.77 today."
"Euro/inr November 2014 (expiry on 26th November): A break of 77.81 will result in 78.08 and 78.47. Initial support is at 77.37 and there will be sellers only below 77.37."
Key Quotes
"US FOMC minutes can impact rupee and emerging market currencies tomorrow. I am not going to comment more, except that short covering will be there in euro, US dollar in case rupee weakens against them today and tomorrow."
"Usd/inr November 2014 (expiry on 26th November): Head and shoulder formation on the charts. Usd/inr can rise to 62.02 and 62.32 as long as it trades over 61.77. There will be sellers only below 61.77 today."
"Euro/inr November 2014 (expiry on 26th November): A break of 77.81 will result in 78.08 and 78.47. Initial support is at 77.37 and there will be sellers only below 77.37."