USDINR - should have broken out this time right? Every time it has spiked up recently to near the 83 level, everyone is pounding the table. But the likes of me waiting with bated breath. I am waiting because I have been trying to anticipate a top here, but once again, for the nth time, we have a failure to move past the upper trendline of the triangle. A day after RBI held interest rates and as global markets wait for the next inflation print out of the US, the USDINR has fallen 20 paise. Will we now see follow-up declines to the lower end of the range and finally break the lower end? I want to believe that, but only time will tell if wishes grow on trees.
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