The zone of 65.80-65.95 is prior which can be retested & can form resistance for USDINR .
Looking at the structure, Nifty is in hold of Bulls- who are not ready to leave. So, post retracement to 65.80-65.95 -if happens & dollar rupee starts falling as cited above, then Nifty could resume its upmove post current consolidation or small correction for new highs next.
Looking for the push in the zone 65.80-65.95 & getting resistance from earlier is the minimum move which it should travel next. We will take USDINR move in parts - first till 64.95-65.00 Zone & Later above 65 for 65.40-65.50 -Above 65.50 for 65.80-65.95
It turned down from earlier resistance zone of 64.70-64.80 - once it crosses & sustains above 64.80 - In that scenario we will expect a move till 65.70-65.80 as suggested above in parts.
We got first part above 64.70 to 65.00 & above 65 to 65.25 (partial target).
Above 65.23 -recent high from where it had a fall & doing sideways. Once it crosses 65.25 - Next zone shall be 65.80-65.95
Only above 65.25 we move next else .......
Impulsive sequence 1-2-3-4-5 looks to be in final touch and moving next will decide the gamut of markets & can be crucial clue for equity markets as well.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ