After being stuck in a range of barely 30 paise for almost three weeks, finally, USDINR made a breakout move. Next week, Indian GDP data for the September quarter will be keenly watched. However, a weaker than expected growth number is expected to have a bigger impact, than a strong one, as USDINR has begun to move higher. At the same time, the most important driver remains global risk sentiments. A new COVID strain has got governments around the world worried. WHO has convened a special meeting and fresh lockdowns are being announced in Europe. A further escalation in covid restrictions can hurt sentiments. Therefore, volatility can be high in USDINR depending on the direction of the global equity markets.
USD INR Gann Angle Chart
Price back to gann angle resistance zone.
USD INR Plannetary Support and Resistance Line
USD INR did a breakout above 75 now heading towards 75.5/75.75
USD INR Harmonic
