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.
Comment:
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.
