- A break from immediate support arnd 66.33-35 and 66.25 (purple bottom line in triangle), can make Rupee bullish.
- And Immediate resistance of 66.92-98, can elevate USD towards 67.07/67.22/67.45 (which will incidentally be a 3rd top).
Presently has been in this Narrow range of 66.66/66.35 to 66.90/67.07 for almost a month
- And Immediate resistance of 66.92-98, can elevate USD towards 67.07/67.22/67.45 (which will incidentally be a 3rd top).
Presently has been in this Narrow range of 66.66/66.35 to 66.90/67.07 for almost a month
Note
Daily_Chart (above): USDINR crucially placed near 12 week support – around 66.66 (as seen in the Daily chart below), now at 66.68. If broken it may first test 23.6% fibb lvl of 66.51 and highly important triangle support at 66.41 (possibly a 4th drop in 14 weeks). Restrained Blue line resistance holds at around 66.90.
Weekly_Chart:
Existing weekly candle is just after a bearish candle. With 2 trading days to go, will be watched critically.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.