{"id":6098,"date":"2024-03-19T09:50:07","date_gmt":"2024-03-19T04:20:07","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=6098"},"modified":"2024-09-03T11:05:30","modified_gmt":"2024-09-03T05:35:30","slug":"currency-market-overview-march-19-2024","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/currency-market-overview-march-19-2024\/","title":{"rendered":"CURRENCY MARKET OVERVIEW :"},"content":{"rendered":"
USD\/INR remains stuck within a multi-month-old descending trend channel since December 8, 2023 around 82.60\u2013 83.15. In the near term, USD\/INR maintains the negative outlook unchanged as the pair is below the 100-day Exponential Moving Average (EMA) on the daily chart. The critical support level is located at the lower limit of the descending trend channel at 82.60. A break below this level could drag the pair lower to a low of August 23 at 82.45 and then revisit a low of June 1 at 82.25. On the other hand, the first upside barrier will emerge at the 83.00 mark, portraying the confluence of the 100-day EMA and a psychological round mark. The additional upside filter to watch is the upper boundary of the descending trend channel at 83.15. A bullish breakout above the mentioned level might attract bulls and the pair might recover to a high of January 2 at 83.35, followed by an 84.00 round figure.<\/strong> \u00a0<\/p>\r\n <\/p>\r\n CLICK TO OPEN FOR MORE INFORMATION ABOUT CURRENCY UPDATE :\u00a0<\/strong><\/p>\r\n