Currency Special Report - Rupee to strengthen against US dollar :: Edelweiss, link

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USDINR has formed two bearish candlestick patterns called Evening Star. Also, it has formed an exhaustion gap on the long upside rally, suggesting that upside in USDINR will be limited until the recent highs of $63.90 is broken.

Edel Maxima - Sell USDINR January Future @ CMP 63.75-85, Buy USDINR 64 January Call @ 0.26, Stoploss 65.35, Target-60.50 and 60.00

• INR has been one of the best performing currencies among most Asian currencies. The rupee has remained around the same level from the beginning of the year, while most other Asian currencies have depreciated 2- 5%. We believe that INR will continue to outperform other EM and Asian currencies.
• India is looking more and more a safe haven emerging market for global investors who are flush with liquidity given the doubling of balance sheets from the Fed to the Bank of Japan over the last six years. India`s macros have improved with fiscal and current account deficits down and lower inflation.

LINK

https://www.edelweiss.in/research/Currency-Special-Report--Rupee-to-strengthen-against-US-dollar-/10005386.html