USDINR- Broke the resistance zone
Updated
USDINR has broken the falling trendline and also broke past an important horizontal resistance region of 78.15 - 78.20. This was broken with a huge candle.
With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step in to control these levels.
Let's see how the follow-through candles develop today and tomorrow on Daily timeframe. It shall retain the 78.15 - 78.20 region for further up-move.
With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step in to control these levels.
Let's see how the follow-through candles develop today and tomorrow on Daily timeframe. It shall retain the 78.15 - 78.20 region for further up-move.
Note
USDINR broke the ATH, but couldn't sustain that level. Took support in the yellow region. For further upmove, it has to sustain above the 78.30 level.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.