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rjoshicool
Jun 22, 2022 12:29 PM

USDINR- Broke the resistance zone 

U.S. DOLLAR / INDIAN RUPEEICE

Description

USDINR has broken the falling trendline and also broke past an important horizontal resistance region of 78.15 - 78.20. This was broken with a huge candle.
With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step in to control these levels.
Let's see how the follow-through candles develop today and tomorrow on Daily timeframe. It shall retain the 78.15 - 78.20 region for further up-move.

Comment

USDINR broke the ATH, but couldn't sustain that level. Took support in the yellow region. For further upmove, it has to sustain above the 78.30 level.
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