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Indian Rupee holds in critical area


  • USD/INR bulls are tiring following the recent daily bullish impulse. 
  • The supply area achieved is critical and bulls need to move higher from here for a break of the upside. 

USD/INR is consolidating the recent move to the upside and the subsequent correction in critical daily support as follows:

USD/INR daily chart

The price of USD/INR met the daily support zone and is now in the process of consolidation at a critical juncture. If the price fails to move higher from here, there is an argument for a long term consolidation with 74.50 eyed as a downside target. 

 

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