USDINR: Weakness in the counter
USDINR ended below the uptrend line support, on the daily chart. This indicates weakness in the counter. Moreover, breakdown below 55.4 will complete the double top chart pattern. Projected target according to which is around 53.5 levels.
EURINR in the past week tested the stiff resistance line, visible on the charts. Prices ended with the bearish candle, indicating some correction from current levels.
Entry: Below 68.5
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- Monarch's Daily Currency Outlook
- USDINR pair still holds the support of 61.87
- Weekly Currencies: Sell USDINR, EURINR and GBPINR
- USD/INR: Go long with targets of Rs63.25-Rs63.46
- USD/INR: Overall trend remains up
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