USDINR - 20Dec2021
On the weekly, price faced bearish pressure from 1st Resistance at 76.40 as expected. We could expect the price to pull back to at least 75.83. It is also worth noting that USDINR is currently moving inversely of DXY. If DXY strengthens, USDINR drops.
On the H4 timeframe, price is coming into support area at 75.8665. We could expect a short-term bounce from this level.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, price faced bearish pressure from 1st Resistance at 76.40 as expected. We could expect the price to pull back to at least 75.83. It is also worth noting that USDINR is currently moving inversely of DXY. If DXY strengthens, USDINR drops.
On the H4 timeframe, price is coming into support area at 75.8665. We could expect a short-term bounce from this level.
This is for personal record purposes only, not financial advise or solicitation of trade.