According to Axel Rudolph, senior analyst at Commerzbank, USD/INR 1 Month NDF has failed slightly below the 72.33/73.01 resistance zone and is once again likely to target the 69.80/44 area. Key Quotes “The USD/INR 1 Month NDF’s rally from its January low at 69.44 has taken it to its current February high at 72.21 before falling out of bed again.” “This high was made close to the 72.33 November 8 low and the December peak at 73.01. As long as this level isn’t overcome on a daily chart closing basis, we will stick to our medium-term once again bearish outlook.” “Strong support is found at the 69.80/44 December and January lows. If the January trough at 69.44 were to give way, the July and August lows at 68.51/50 would be next in line.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD fades a bullish spike, drifts back closer to session lows FX Street 3 years According to Axel Rudolph, senior analyst at Commerzbank, USD/INR 1 Month NDF has failed slightly below the 72.33/73.01 resistance zone and is once again likely to target the 69.80/44 area. Key Quotes "The USD/INR 1 Month NDF's rally from its January low at 69.44 has taken it to its current February high at 72.21 before falling out of bed again." "This high was made close to the 72.33 November 8 low and the December peak at 73.01. As long as this level isn't overcome on a daily chart closing basis, we will stick to our medium-term once again bearish outlook."… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
