Update on USDINR – 6.Feb.2015


Hi all,
You are reading my 100th post in the category “Forex”.
USD/INR opened at 61.9950, a bit higher than yesterday’s closing LTP 61.97. As said in my blog post yesterday I hope the selling will continue atleast upto 61.86, the Daylow was 61.8625 and then pair started to bounce back upto 62.0350 (Dayhigh). I was expecting the pair to touch 62.06 atleast but Bulls lost their way at 62.0350. Hence the pair went down again and closed at 61.9150.
Analysts may say that the market lost its momentum by waiting Non Farm Payroll (NFP) from U.S. in the daytime. Anyhow NFP data came out a bit earlier and seems positive for US Dollar.