USD/INR Forecast: May 2022: The $USDINR ended the month of April holding onto bullish gains made in choppy conditions, and as May begins traders of the Indian Rupee will face challenging tests.
The USD/INR enters the month of May having held onto bullish gains, but showing signs of slight technical selling.
If in fact the trading adage of ‘sell the fact’ plays out when the U.S Federal Reserve makes their interest rate hike official, the USD/IND is likely to see a significant amount of fast and volatile trading. Speculators with limited amounts of money who cannot afford to wager in the anticipated choppy conditions should be extra cautious early this week.
In March the USD/INR did climb to a record high of nearly 77.1500, and some traders may be wondering if these values will be attained again.
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