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FXstreet.com (Barcelona) - BBH Ilan Solot, Emerging Markets Strategy, remains nonconstructive about the Indian Rupee outlook. On balance, Ilian thinks "the positive arguments carry the day in the short term, but in the medium to long term we think INR will underperform the region." From a technical standpoint, the analyst says "USD/INR needs to break the 50-day MA near 54.65 and then the 200-day MA near 54.35 first to open up a move to the downside; after that, the major level to watch is 54.00..." On the top side, "56.00 is still the key level to watch" he adds.
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