USDINR is rising on rising sharply due rising crude oil prices this week, as European nations has said No to Russian Oil.
USDINR is looking strong and can head to levels of 77.8 where it can face huge resistance.
If USDINR manages to trade above 77.8 levels on daily and weekly timeframes, then it is heading towards 78.5 levels.
If BEARS managed to hold USDINR...
USDINR has been trading in an Upward Parallel Channel, since last year end till now. Recently it has hit the upper top of the channel at 77.88 levels.
Its a SELL till 77.4 and if it breaks 77.4 level with good volume, it can further drift down to 77.17 levels.
76.94 to 77.1 7 is a Buy Zone, where can be a bounce back but till that time, its a Short.
The US dollar has gone back and forth during the trading session on Thursday as we hang around the ₹75 level. The ₹75 level in the past has been resistance, and it certainly looks as if it is the same situation now. I believe the market testing this major resistance barriers a sign of just how weak India is at the moment, as traders around the world continue to...
USDUNR has been week due to global cues. All cross currencies are gaining opposite to USD which will help to strengthen the rupee in upcoming week. This week i will be bearish on USDINR for the TGT 66.5237 and 66.1413
