Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls:
The dollar index (DXY) this week has traded roughly in the range of 93.30-94.08. We expect Indian Rupee (INR) to trade in the range of 72.50-73.30 next week. Any correction in Indian Rupee will only come if it manages to sustain below 72.20. If USDINR breaches 73.06 in Future, we may see rapid depreciation in our currency till 73.30-73.50. INR got a small boost with a decline in US Treasury yields reducing support for the greenback. US 10 yr yield decline from 3.110 to 3.05 which has