seanrooney1007

USDINR - Cup and Handle

Short
OANDA:USDINR   U.S. Dollar / Indian Rupee
As observed the USDINR pair has curved out and formed a bottom followed by a drop. The INR has then depreciated against the greenback breaking out from the consolidation phase. However the RBI's intervention can act as a strong resistance for the USDINR from spiking upwards. In the last 2 trading days as the Dow has fallen by ~14%, this has not had a major impact on the USDINR pair.

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