USD/INR to surge higher towards 79.00 on a break above 77.00 – SocGen

USD/INR has extended its uptrend and is challenging the peak of 2020 at 77.00. A break beyond here would clear the way for further gains towards 79.00, economists at Société Générale report.

Daily Kijun line at 75.65 to cushion the downside

“An initial pullback is likely, however, daily Kijun line at 75.65 could cushion.”

“A break above 77.00 can take the pair towards next projections at 79.00.”