US Debt Ceiling Crisis Averted:USD INR Weekly Analysis

By | May 28, 2023 1:58 pm

The US debt ceiling deal is done – Deal includes a 2-yr debt limit extension, effectively resolving the issue until after the 2024 election – Deal needs to pass Republican-led House & Democrat-controlled Senate

Whenever USDINR drew close to the 83.00 handle over the past eight months, momentum slowed down as the persistent supply from exporters and the RBI drained away demand for the US Dollar. As a result, the pair fluctuated for a week between 82.50 and 83.00 before falling apart. Therefore, traders may set stops on their positional long bets below 82.50 on a spot basis this time as well. Buying on dips is possible as long as the prices do not go below 82.50. However, traders wishing to play against the trend can immediately put stop and reverse orders above 83.25 levels.


USD INR Gann Angle Chart

The price continues to get support from 82.50-82.25 range, Heading towards 83 till holding 82.25.

USD INR Plannetary Support and Resistance Line


Indain Rupee is above Venus Plannetary line heading  towards 83/83.25

USD INR Harmonic

Price is heading towards 83  to complete SHARK pattern.

USD INR Astro/Gann Trend Change Date

Major Trend Change date for INR is 29 May

Weekly Trend Change: 82.75

Weekly Resistance:82.90,83.10,83.25,8.40

Weekly Support: 82.50,82.25,82,81.85

Levels Mentioned are for June Contract of USD INR

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