RBI Intervention Supports AUD/INR Amid Bullish Momentum
The Australian Dollar versus Indian Rupee (AUD/INR) pair is currently trading at ₹67.0494, marking a modest daily gain. The pair remains above its key moving averages, reinforcing an upward trend. The Reserve Bank of India (RBI) has intervened in the foreign exchange market to support the rupee, which is facing pressure from a stronger US Dollar and volatile oil prices.
RBI's intervention has temporarily boosted demand for the rupee, helping to stabilize the currency and impacting the AUD/INR pair. The rupee opened slightly higher against the US Dollar at the start of the central bank's policy week, maintaining a steady trading environment. Technical indicators suggest that the AUD/INR pair is maintaining bullish momentum, with the price trading above the MA-20, MA-50, and daily MA-200 on the hourly chart.
Despite the bullish signals, some indicators like the Stoch RSI and CCI are in overbought regions, suggesting potential near-term exhaustion. The pair is expected to trade within a range of ₹66.6944 to ₹67.3646 over the next 2-3 sessions. The probability of a further rise is estimated at 71%, while the downside risk stands at 29%. A decisive break above the daily MA-200 could confirm further upside potential.
Analysts had previously noted that the AUD/INR pair was under sustained technical selling pressure, but current technical signals indicate a shift to a bullish bias. The analysis is based on a proprietary model combining technical, on-chain, and expert data, and should not be considered investment advice.