» » Indian Rupee Up, Bullish Signal Forming

Indian Rupee Up, Bullish Signal Forming

Add Comment
General News
Monday, May 5, 2014
        0627 GMT [Dow Jones] A bearish technical signal for USD/INR - thereby a bullish one for the rupee - could be confirmed on a Monday close below 60.10. The U.S. dollar has slipped after the mixed U.S. nonfarm payrolls report on Friday, suggesting the market was already long the dollar and may be capitulating those positions after data showed the U.S. labor participation rate fell sharply. Entry into the Bollinger downtrend channel will likely weigh USD/INR lower to the 59.80 base of the channel and then possibly to the 59.50 psychological support. On the horizon, the May 16 results of India's general elections will be in focus for macro investors. USD/INR was last at 60.06. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 05, 2014 02:27 ET (06:27 GMT)

0 Response to "Indian Rupee Up, Bullish Signal Forming"

Thanks for give comment.

Subscribe to: Post Comments (Atom)