Bearish View
- Sell the USD/INR and set a take-profit at 78.50.
- Add a stop-loss at 79.50.
- Timeline: 1-2 days.
Bullish View
- Set a buy-stop at 79.35 and a take-profit at 80.
- Add a stop-loss at 78.50.
The USD/INR price dropped to the lowest level since July 11th as investors waited for the upcoming interest rate decision by the Reserve Bank of India (RBI). It fell to a low of 78.90, which was significantly below the year-to-date high of 80.18.