NeeteshJain

USDINR - Moving up with caution sign

FX_IDC:USDINR   US DOLLAR / INDIAN RUPEE
It has reached to the previous resistance level of 66.8715-67.0312,

Scenario 1 (dotted red line): if we see a break out from the current resistance then rupee can further depreciate to 68.8579 - 69.1713.

Scenario 2 (solid red line): we price action does not break the current resistance at 66.8715-67.0312, then a retracement to 66.0000 can be seen before moving up.
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