USD INR Weekly Forecast as US Dollar Index Trades at 16 Month High

USDINR is going to close the week almost flat after the pair recovered from an IPO flow-related drop below 74 handle on November futures. US Dollar index is trading at a fresh 16 Months high, Asian currencies are strengthening against the US Dollar. USDINR is caught between the two kinds of forces. Most of the other factors like oil prices and equity markets are mostly mixed. Hence, we are having days of range-bound trading activity. One can focus on options selling strategies to benefit from the lack of direction in markets.

USD INR Gann Angle Chart