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7 Apr 2021 ‚óŹ 07:26 AM

USDINR breaks out above 73.60 and confirms a possible move toward 78-79 in the coming months

At a time when Nifty is starting a new impulse wave and bank nifty is confirming a bottom USDINR is breaking out on the upside. At above 74 it is hard to call this a false move. So if we stay above 74, break past the yellow C-D trendline, we are heading up toward 78-79 in wave E of a long-term ending diagonal for USDINR. Then in a rare scenario maybe Nifty and USDINR go up together and that can be bullish to currency-sensitive sectors like technology. 

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