USDINR rallies into major historical resistanceThe US dollar has been on the rise late, with equity market weakness translating into a upside for havens such as the greenback. For USDINR this has brought the currency pair back up into a major historical resistance level that could yet cause a significant breakout or reversal. The key line in the sand comes in the form of the prior swing-high at 82.79. A break up through that level would signal a potential resumption of the long-term bull market. However, until that level breaks, we are faced with the potential of a seventh peak within a consolidation phase that has lasted almost a year.
