USDINR gave a strong upmove last day and is now out of the weekly resistance of trend-line. The resistance was broken with a strong candle and we can expect further upmove.
At the same time, USDINR is testing another resistance trend-line that has been tested 3 times since 2013 and now being tested for the 4th time. A weekly close above this would mean further uptrend.
However, we don't see a deep down-side also as of now since we broke a trendline nearby laready.
As of now, I am Neutral to Bullish on this pair with a strong support region of 78.40 - 78.30. Daily close below this would mean change in trend.
At the same time, USDINR is testing another resistance trend-line that has been tested 3 times since 2013 and now being tested for the 4th time. A weekly close above this would mean further uptrend.
However, we don't see a deep down-side also as of now since we broke a trendline nearby laready.
As of now, I am Neutral to Bullish on this pair with a strong support region of 78.40 - 78.30. Daily close below this would mean change in trend.
