- First chart is the multi month resistance line of USDINR with resistance line. Price is testing this resistance line for the second time within a span of 6 months. There is a chance of a breakout which needs to be confirmed with a monthly close above the resistance line.
- Daily chart is shown with the recent resistance level. Daily and Weekly close above this level may give 56-57 levels.
- Weekly chart and MACD has started to diverge. For a confirmation price need to breakdown which is not happening. Price may give newer high's before the divergence shows its effect.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
May 9, 2012
USDINR Monthly resistance line
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