INR (Indian Rupee)
Will USDINR breakout and depreciate INR further?China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD .
China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move.
This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend.
Can "INR" sustain the pressure or it will prevail further devaluation?
Go long FX_IDC:USDINR
Trade Trigger 67.2
Target 68.6
SLTP 66.7