Forex Trading USD INR Weekly Technical Analysis

By | April 22, 2013 9:29 am

USD INR 4 Hour Chart


USD INR 4 hour chart is trading in a downtrending channel,with support coming at 55.58. Opened with a gap down today,looking at charts it seems the opening gap will be filled.

 USD INR Daily Chart


As per Daily charts INR is trading below 200 DMA from past 19 days. Trading in a range of 54.49-53.89.Break of 53.89 will lead to 53.58 and unable to do the same can lead to higher end of range at 54.5


 USD INR Weekly Chart


Weekly charts are trading in a perfect symmetrical triangle, with support rising 53.5 and resistance falling down 54.8 eventually will form a pennat formation and large breakout will ensue but in due course of time. Range bound moves to continue till than.


USD – INR Trend Deciding Level:54.25

USD – INR Resistance:54.72,54.95,55.42 and 55.89

USD – INR Support:53.56,53.08 and 52.39

Levels mentioned are USD – INR April Future

Levels are mentioned are USD INR April Future

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