Karen Jones, senior analyst at Commerzbank, suggests that the outlook for the USD/INR 1 Month NDF’s is bearish as it has failed at its 5 month downtrend at 71.57 rally and attention is on its January low at 69.44, this is now exposed. Key Quotes “Strong support is found at the 69.80/44 December and January lows. Once the January trough at 69.44 gives way, the July and August lows at 68.51/50 would be next in line. This area should offer strong support ahead of the 67.03 7th June low and the 200 week ma at 67.09.” “The 72.21 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 bearish outlook. Above 73.01 lies the September high at 73.49.” 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 USD/RUB drops to 2-week lows near 65.50 FX Street 4 years Karen Jones, senior analyst at Commerzbank, suggests that the outlook for the USD/INR 1 Month NDF's is bearish as it has failed at its 5 month downtrend at 71.57 rally and attention is on its January low at 69.44, this is now exposed. Key Quotes "Strong support is found at the 69.80/44 December and January lows. Once the January trough at 69.44 gives way, the July and August lows at 68.51/50 would be next in line. This area should offer strong support ahead of the 67.03 7th June low and the 200 week ma at 67.09." "The 72.21 high was… 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.
