CURRENCY PAIRS
USDINR Prices faced the resistance of 76.4% retracement of the previous downmove (57.10-52) and started to shedding gains as it failed to move above that level. Dollar started to depreciate more against rupee when the upward sloping channel was breached. Prices completed ending diagonal pattern, a move below 55.50 pulled the prices to lower levels, thus activating bears. As per the wave perspective prices completed wave v and next leg on the downside has started. In forth coming sessions dollar will further depriciate and USDINR can test 54.80 in coming sessions. Momentum indicator RSI has also changed its path after touching 60. In short, USDINR will test its support of 54.80 in couple of trading sessions which will appreciate INR. EURINR After a bull run for this currency pair, prices failed to close above its pr
