This decrease in US yields has prompted a much-needed correction in the US Dollar, which had become excessively overvalued. This technical correction could be advantageous for the Indian Rupee, which has struggled to stay below the all-time high of 83.29 against the US Dollar. We may see the USDINR spot rate gradually decline toward the 82.90/83.00 range. Over the past six weeks, the USDINR has generally traded within the range of 82.80 to 83.30 on the spot market. Consequently, the prevailing strategy is to sell near the 83.20/30 level and buy near 82.90. This trading approach appears to be the most viable one currently.
USD INR Weekly Chart
USD INR rejected from Upper end of range one again and foremed Weekly Doji.
USD INR Plannetary Support and Resistance Line
Indain Rupee at a support of Venus Plannet line.
USD INR Harmonic
Price has completd the Deep Crab Pattern below 83 heading towards 82/81.5