Indian Rupee has been showing very clear Elliott wave pattern. See at the charts below published in our daily Forex update.
As we can see in the daily chart (shown in actual research report), prices reached a pivot high at 65.75 and then wave b (red) started on downside. Post completion of wave b we can expect wave c to move on upside which will again breach 65.75 levels.
USDINR (Fut) 60 mins chart:
Indian Rupee has been appreciating against USD over past few weeks. Prices moved from 65.50 levels towards 64.40. However, there is possibility that the move on downside is in matured stages and prices can again start moving on upside soon.
Short term path of USDINR is shown on 60 minutes chart. Prices can drift lower towards the channel support of 64.30 (fut) but post its completion we can see a good move towards 65.25 levels or higher.
In short, USDINR has important support near 64.30 (fut) levels and one can use that as buying opportunity for move towards 65.25 followed by 65.75 levels.
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