USD INR Weekly Technical Analysis

By | May 6, 2013

USD INR 4 Hour Chart

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USD INR 4 hour chart is trading in a downtrending channel,with support coming at 53.84. On Upside range of 54.18-54.21 is all important zone of resistance. So range bound move to continue.

 USD INR Daily Chart


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As per Daily charts INR is trading below 20 DMA.USD INR broke the rising trendline for 2 days but quickly recovered and closed just near the trendline level of 53.90. Next important resistance on upside comes at 54.20

 

 USD INR Weekly Chart

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Weekly charts are trading in a perfect symmetrical triangle, with support at 53.61 and resistance falling down 54.64 and forming a pennant formation and large breakout will ensue but in due course of time. Range bound moves to continue till than.

 

USD – INR Trend Deciding Level:54.15

USD – INR Resistance:54.55,55,55.44

USD – INR Support:53.70,53.25 and 52.80

Levels mentioned are USD – INR May Future

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