Not too much is happening in the FX market. Prices are falling back within the broader trading range 66.00<>68.75. Down side risk is rather limited for now: substantial support i found between 66.25 and 66-even. Only a convincing break below this area can alter the neutral outlook on the medium term and longer term charts. As of yet, there is no major evidence such a break is likely.
Avoid or range trading only with a mild bearish bias towards the 66-area.
- Current trend: neutral
- Outlook/expectations: neutral
- Strategy: range trading or avoid
- Support: 66.25 / 66.00-
- Resistance: 68.35 / 68.75+
Daily chart USD/INR