Short
USDINR - Downfall of this pair is evident
USD has been weak internationally. Though the effect on USDINR hasn't been that strong as compared to other currencies, but that doesn't mean that this pair is bullish. Furthermore, on seeing the chart, we can see it has been in a descending triangle since March 2020 and continuously making Lower Highs.
Now, it has reached a strong support area, but a pullback from this region might be short lived because of the international trend.
I would recommend to open sell positions on break of a the support line or in case a pullback happens to the resistance trendline.
Now, it has reached a strong support area, but a pullback from this region might be short lived because of the international trend.
I would recommend to open sell positions on break of a the support line or in case a pullback happens to the resistance trendline.
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