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USDINR Weekly Reversal !

USDINR has shown a weekly reversal.
It closed at 60.88 this week versus previous week close of 61.10. Even after breaking previous highs, we do not see momentum picking up. There continues to be a series of negative divergence across USDINR on daily and weekly charts. In our opinion USDINR can reach target of 59. Immediate support can be seen at 59.40 post which we would not be surprised if it appreciates further till 58. We believe that the upside is capped at 62-62.25.

Please refer daily and weekly chart shown below.




Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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