May 9, 2012

USDINR Monthly resistance line

  • 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.


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