- 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
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.