Will USDINR breakout and depreciate INR further?
China's central bank guided the yuan lower on Thursday
CNYUSD
.
China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move.
This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend.
Can "INR" sustain the pressure or it will prevail further devaluation?
Go long
USDINR
Trade Trigger 67.2
Target 68.6
SLTP 66.7
CNYUSD
. China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move.
This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend.
Can "INR" sustain the pressure or it will prevail further devaluation?
Go long
USDINR
Trade Trigger 67.2
Target 68.6
SLTP 66.7