This one is for my friends in finance sector in India. By the looks of the chart, INR is going to strengthen against USD and if the pair breaks 72.60, it opens the door for 72 and if it breaks 72 then to 70 / 68. On the timelines, it may reach 72 by June / July 2021 and then 70 possibly by end of 2021.
Bought on 72.56
TP1 = 72.79
TP2 = 73.07
SL = 72.24
Information provided is only educational and should not be used to take action in the market.
This section is intended for short-term speculation. Be ready to leave a position at any time.
On monthly chart USDINR is at key support and has higher chance of reversing up to 75 in coming months. The support is from 20 Month moving average and trendline from 2012 low. hence for long term traders better be on the buy side as dollar is also seen strengthening in coming months.