USD/INR – Slight bearish relief on RBI Intervention, but uptrend intact : Umesh Shanmugam
Rupee hit yet another record low against USD today, with USD/INR reaching a high of 64.45 before heading lower on suspected buying activities by Central Bank RBI. This allowed price to break back into the rising channel, seeking out Channel Bottom from a technical perspective. However, if past intervention by RBI is of any indication, …