Based on the Daily Chart, I expect down side correction in USDINR.
The retracement levels are: 59.98(done), 59.68(done), 59.42, 59.16, 58.97, 58.80, 58.34 (100%).
Based on the Hourly chart, the down move targets are: 59.51, 59.35, 59.07, 58.64.
Downside Targets: 59.98, 59.68, 59.51 (done), 59.42, 59.35, 59.16, 59.07, 58.97, 58.80, 58.64, 58.34 (100%).
Below, 58.34, we can see more down move.
Now, the resistances for USDINR are:
Resistance: 60.41, 60.49
Small resistances: 59.82, 60.19.
Break above 60.49, we can see 60.99, 61.30, 61.81++.
As of now, USDINR is in down trend. Let us wait and watch.
Breakout Levels: 60.49(UP), 58.34(DOWN).
The retracement levels are: 59.98(done), 59.68(done), 59.42, 59.16, 58.97, 58.80, 58.34 (100%).
Based on the Hourly chart, the down move targets are: 59.51, 59.35, 59.07, 58.64.
Downside Targets: 59.98, 59.68, 59.51 (done), 59.42, 59.35, 59.16, 59.07, 58.97, 58.80, 58.64, 58.34 (100%).
Below, 58.34, we can see more down move.
Now, the resistances for USDINR are:
Resistance: 60.41, 60.49
Small resistances: 59.82, 60.19.
Break above 60.49, we can see 60.99, 61.30, 61.81++.
As of now, USDINR is in down trend. Let us wait and watch.
Breakout Levels: 60.49(UP), 58.34(DOWN).
