maheshmuralinair

USDINR Historic Price Structure

OANDA:USDINR   U.S. Dollar / Indian Rupee
In the latest structure it can be seen that there is a compression in the price range. The breakout in either direction may lead to a significant move. But the trading range between 70 and 72 may act as a support on the downside.
Comment: Breakout on the upside but has to sustain above 74.65
Comment: If 74.65 doesn't hold, price may test the support of 73.8
Comment: If 73.8 holds on a closing basis, price may stay about it else could test the crucial 72.18 which would act as a support.
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