As per the weekly charts, the overall trend remains positive and bullish for USDINR prices - Kedia Advisory
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Technical
As per the weekly charts, the overall trend remains positive and bullish for USDINR prices. Technically, prices had formed a rounding pattern on the weekly timeframe and have given a breakout above its neckline and resistance area of 77.10 which may now lead prices towards 77.78. Prices are currently trading near 77.58 heading towards 77.78 which is the 61.80% Fibonacci ratio level and once prices break this level we may see it rally towards our target of 79.20 (78.60% Fibonacci ratio level) with a stop loss below 76.80 as per the current fundamentals and technicals. We have scanned the charts technically
Action: BUY USDINR ON DROP TOWARDS 76.50 SL 75.40 TGT 77.90-79.20
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
