USDINR - 30Dec2021
On the daily, price have confirmed below 50MA and breakout trendline. Need to wait and see whether it confirm below on the weekly timeframe.
On the H4 timeframe, price broke down from the important support level at 75.00 area. With Stochastic at support, we could expect USDINR to retest 1st Resistance at 75.00 before going down further.
There also seems to be a h&s in play with target around 74.20.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price have confirmed below 50MA and breakout trendline. Need to wait and see whether it confirm below on the weekly timeframe.
On the H4 timeframe, price broke down from the important support level at 75.00 area. With Stochastic at support, we could expect USDINR to retest 1st Resistance at 75.00 before going down further.
There also seems to be a h&s in play with target around 74.20.
This is for personal record purposes only, not financial advise or solicitation of trade.
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