简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract：USD/INR renews intraday low around 76.48, extending the previous days weakness, as bears keep reins amid the initial hour of the Indian trading session on Monday.
USD/INR fades bounce off 100-SMA inside a bullish chart formation.
Indias active covid cases rally to the highest since March 25, crude prices refrain from declining.
Sluggish market sentiment, pre-Fed anxiety also challenge moves ahead of the key data/events.
US ISM Manufacturing PMI will direct intraday moves but major attention will be given to risk catalysts, Fed and NFP.
The Indian rupee (INR) pair‘s latest weakness ignores the resurgent covid woes and mostly firmer oil prices. Also challenging the INR bulls are the US dollar’s safe-haven appeal and the market‘s risk for risk-safety due to the Ukraine-Russia crisis, as well as China’s coronavirus-led lockdowns. It should be noted that the greenback‘s consolidation ahead of this week’s key data/event seems to have helped the USD/INR sellers of late.
As per the latest official update, India reports the highest active COVID-19 cases since March 25, per Reuters. That said, the daily infections eased to 3,157 versus 3,324 while the daily death toll also dropped from 40 to 26.
Elsewhere, the International Monetary Fund (IMF) also conveyed economic fears for the Asia-Pacific region, including India, while saying, “Economic growth in Asia and the Pacific will slow this year to 4.9%, less than last years 6.5% pace, amid the war in Ukraine, a resurgent pandemic, and rising interest rates.” For India, the IMF expects 8.2% growth in 2022 versus 8.9% for 2021.
Looking forward, the US ISM Manufacturing PMI for April, expected at 58.0 versus 57.1 prior, will offer intraday directions while major attention will be given to Wednesday‘s Fed meeting and Friday’s US NFP data. Should the Fed disappoint markets, the bears may return to the table.
Technical analysis
USD/INR remains inside a monthly rising channel, recently fading the bounce off 100-SMA.
Given the steady RSI and bearish MACD signals, as well as the pairs inability to cross the 76.75-80 region, the USD/INR bears remain hopeful.
However, the quotes successful trading above the key SMAs and the bullish cross of the 100-SMA over the 200-SMA hints at a short-term recovery.
Hence, intraday buyers may aim for the 76.75-80 region while any further upside will be challenged by the stated channels resistance line close to the 77.00 threshold.
Alternatively, the 100-SMA and the 200-SMA, respectively around 76.35 and 76.15, will test the USD/INR bears before giving them control.
USD/INR: Four-hour chart
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
HYCM Capital Markets (UK) Limited reported a £236,304 loss for 2025, as higher administrative costs offset a small rise in revenue and reversed the previous year’s profit.
XELLION, a Saint Lucia-based forex broker, is reportedly facing many complaints from users. Among the complaints, the lack of smooth fund withdrawals remains the most disturbing one. This issue was not only highlighted by real users but also the Introducing Broker (IB) who expressed shock over this issue on broker review platforms. In this XELLION review article, we have examined these allegations against the brokerage entity.
If you're looking for information about AssetsFX deposit and AssetsFX withdrawal processes, you're taking a smart step when choosing a broker. However, when it comes to AssetsFX, we need to discuss some serious concerns right away. While its website shows many modern payment options that look good, many user reports tell a very different and worrying story, especially about people not being able to get their funds back. Keep reading!
When traders look at a new broker, the most important question is always about safety. This is especially true for AssetsFX, a broker whose online presence raises a serious question: Is AssetsFX safe or a scam? The answer isn't immediately obvious, as the broker has a very divided reputation. When you search for user feedback, you find two completely different stories. On the one hand, there are many positive reviews. On the other side, there are very serious claims of financial wrongdoing. This article won't waste your time. Our goal is to look through all the information, from regulatory status to real user AssetsFX complaints, to help you understand the major risks and make a smart decision about your investments.
WikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFX
