The USD/INR is near the 81.4950 ratio as of this writing, but price action has been fast and readers are urged to compare the market price to this article.
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After producing a rather intriguing upwards move late last week which didn’t correlate to the broad Forex market, the USD/INR has stepped into line and is now mirroring bearish activity seen against the USD in the short-term.This morning’s selloff in the USD/INR has the Forex pair once again within the vicinity of important mid-term support values technically.
If the USD/INR had imbalanced trading positions late last week because of a lack of volume, this would account for the lack of a significant selloff in the USD/INR late last week. The speculative notion that a selloff now may be generated may be a wager that USD/INR traders are thinking about betting on.
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