USD/INR Outlook (Spot – 82.65)
Last Week Range: 83.14 – 82.37
Last week pair traded downward bias and took support 82.37 and bounce backed. This week looks range bound trading with downward bias and will also clear near term direction.
Strategy : Should be played with Levels
Buy pair above 82.63 with target 82.80/82.90
Sell pair when trades below 82.55 with target 82.40/82.30/82.25
Note : FED Chair Powell Speech done at Jackson Hole Symposium, DXY is still making higher high and higher low for last 6 weeks and if weekly closes above 104.62 may touch 105.21/106.93 that needs to be tracked closely.
Major Trigger : August 29, Monthly Currency F&O expiry, August 30, US GDP data and August 31, India GDP data.