USD/INR set to tackle the 50-DMA at 74.00 – SocGen

USD/INR has staged a rebound after forming a low near 72.95 recently. In the view of economists at Société Générale, the pair is set to retest the 50-day moving average (DMA) at 74.00.

Initial bounce is likely

“The pair could retest 50-DMA near 74.00.”

“Graphical level of 72.30/72.20 is a crucial support; a break below this will be essential for a larger downtrend.”