USD/INR experienced another week of lackluster trading, with prices hovering around the 82.00 level on July futures, confined within a narrow 8 paise range on Friday. Speculated central bank intervention appears to be the key factor behind this tight trading pattern. The RBI’s foreign exchange reserve has surged for three consecutive weeks, reaching a 15-month high of 609 billion dollars, supported by the favorable impact of a weak US Dollar and increased Dollar buying in the spot market.
USD INR Gann Angle Chart
USD INR Support can be found at 82 while resistance is observed at 83
USD INR Plannetary Support and Resistance Line
Indain Rupee is bounced from Venus Plannetary line heading towards 83/83.5
USD INR Harmonic
Price is heading towards 83