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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- SMC Derivative Daily
- Sushil Finance's Daily Currency Update
- Way2wealth's Daily Forex Notes
- USDINR: Maintain positive bias towards 65-67 levels
- USDINR: Sell for a target of 61.50
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