 "Trading Strategy")
US Dollar index is parked around 97.30 and is trading in a bull trend. US Dollar was able to shrug off weaker than expected US Retail sales data but is showing downward pressure after President Donald Trump said the US would delay tariffs on EU's automobiles.
Indian Rupee, meanwhile, is trading near its 11-week low. Rupee has depreciated from 69.50 to 70.70 in six trading sessions so we expect some pullback. At present, it is near to its previous swing high of 70.60 made on 25th April. If it breaks 70.70, we can see the next level of 71.10.
Indian Rupee, meanwhile, is trading near its 11-week low. Rupee has depreciated from 69.50 to 70.70 in six trading sessions so we expect some pullback. At present, it is near to its previous swing high of 70.60 made on 25th April. If it breaks 70.70, we can see the next level of 71.10.
