Gauging USDINR based on EURUSD!!

We tried to gauge the USDINR based on the World's most tradable currency i.e EURUSD . Below are the following reasons

(1) EURUSD trading near its rock solid weekly support of 1.0746 i.e forming a falling wedge
(2) Below RSI is trading at its monthly support levels
(3) USDINR is facing a stiff resistance at rising resistance line near 76.32 levels.
(4) We assume a minor retracement of 3% in USDINR i.e till 75.30-74.70, which will be positive for Indian Markets.
(5) EURUSD to rise till 1.1034 levels which means positive for Gold price.

Above analysis is purely for an educational purpose only
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