Monthly Chart of USDINR

Monthly Chart of USDINR:

As seen from the Monthly Chart of USDINR, the currency is trading in the Rising Channel pattern since 2013 to till date.

In the month of April-2020 the currency has hit the Upper part of Channel around the levels of 76.50-77.00 and retraced.

The currency has formed a Shooting star Candlestick pattern around the resistance levels on Monthly chart.

If this pattern is to hold then we may see appreciation in the Currency.

1st Support lies around the levels of 74.00-74.50 and if it is broken then 2nd support lies around the levels of 72.00-72.50.

Resistance lies around the levels of 76.50-77.00

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