USDINR - 22Feb2022
On the daily, price found support near 200MA after dropping and confirming below 20EMA & 50MA. The price could rebound to test 1st resistance at 74.880.
On the H4, price have retested and close above 23.6% Fib retracement before facing bearish pressure and closing back near the previous day lows of 74.50. As daily is on support, we could potentially expect price to bounce back to retest H4 1st resistance at 74.8850
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price found support near 200MA after dropping and confirming below 20EMA & 50MA. The price could rebound to test 1st resistance at 74.880.
On the H4, price have retested and close above 23.6% Fib retracement before facing bearish pressure and closing back near the previous day lows of 74.50. As daily is on support, we could potentially expect price to bounce back to retest H4 1st resistance at 74.8850
This is for personal record purposes only, not financial advise or solicitation of trade.