Feb'16 to Aug'18
USDINR was in a consolidation pattern in the range of 63.25 - 68.79
Breakout happened above 68.79 in Aug'18
There have been few attempts in the past few months to breakdown below this breakout level, but not sustaining.
They may qualify as failed breakdowns
As long as USDINR is above 68.79 levels, I would be bullish on the pair with next resistance at 72
Below 68.79, bullish bets are off
Below 68.25, bearish phase begins (looks less likely at this juncture)
USDINR was in a consolidation pattern in the range of 63.25 - 68.79
Breakout happened above 68.79 in Aug'18
There have been few attempts in the past few months to breakdown below this breakout level, but not sustaining.
They may qualify as failed breakdowns
As long as USDINR is above 68.79 levels, I would be bullish on the pair with next resistance at 72
Below 68.79, bullish bets are off
Below 68.25, bearish phase begins (looks less likely at this juncture)
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