Is the dollar rally running out of steam? Look at the key indicators

Synopsis The Relative Strength Index (RSI) of USDINR also provides us with another valuable insight. When the RSI is above 70 the chances of dollar prices reversing are high. We have witnessed this seven times in the last 10 years. Currently, the RSI of USDINR is in the overbought zone and trading above 70. This indicates the possibility of depreciation in USD and an appreciation in INR. Jimeet Modi CEO, Samco Ventures Modi believes that price is the most important factor in investing. He is credited with developing the AIRM (TM), an approach to screening stocks and businesses in a scientific manner. His role model is Warren Buffett. The risk in global markets has posed several challenges to the Indian rupee versus the US dollar. The Indian currency breached 80 dollar level last month. USDINR declined 6.14% on a year-to-date basis. Most of its emerging market peers have fallen even more. The larger question on everyone's mind is whether rupee will collapse any further. We believe that the rally could run out of steam soon. The dollar enjoyed similar rally in 2018. It rallied from lows of INR 64.84 in April'18 to highs of INR 74.48 by October'18. This was… Read full this story

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Is the dollar rally running out of steam? Look at the key indicators have 297 words, post on economictimes.indiatimes.com at August 6, 2022. This is cached page on Bach Thien. If you want remove this page, please contact us.