Dollar-Rupee Long-Term Outlook Bearish After 64 Breached: ChartBy
The U.S. dollar may decline further against the Indian rupee after falling below 64 for the first time since 2015, according to a technical analysis known as the Andrews’ Pitchfork. The breach of the lower line signals that the longer-term outlook for the currency pair has turned bearish. On the other hand, the dollar’s gain above the upper line in August 2013 didn’t last long, suggesting that the current decline may also trigger a relief rally in the greenback.
— With assistance by Akshay Chinchalkar
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