After showing a sharp fall early last week, USDINR has again started its upward journey. It is slowly approaching a strong resistance zone. This zone lies between 79.69 - 79.82. A breakout of this will clear its path towards 80.00 and then towards the recent all time high of 80.20.
However, a strong rejection of this level might mean a fall back to 79.00 levels.
So, if you are planning a fresh entry, price action in the region of 79.69 - 79.82 is an area to watch for.
However, a strong rejection of this level might mean a fall back to 79.00 levels.
So, if you are planning a fresh entry, price action in the region of 79.69 - 79.82 is an area to watch for.