USDINR

USDINR would not surpass the falling trendline from the March top in November, similarly, the yellow trendline from the November top has also worked as a resistance for the 3rd time in the last 2 days when the failure to surpass 72.96 has resulted in another sell-off. The short-term gyrations make a lot of noise and are hard to count but prices are unable to close above the 20-day moving average since December and every attempt has failed as it did recently. A series of lower lows and lower ice continues and the most recent swing low was at 72.50 below which we should continue towards 71.