USDINR Sell opportunity to the 1D MA50

The USDINR pair made a direct hit on our 82.700 Target, which we set on our last analysis (January 10, see chart below):


Right now we see the price pulling back within a Channel Down. This is a standard pattern within the long-term Rising Wedge pattern, which as you see out of 7 Bearish Legs all broke below the 1D MA50 (blue trend-line) and only 1 managed to make just a hit-and-rebound.

As a result we are going for a moderate sell Target at 83.100 and then we will reverse to buying, targeting Resistance 1 at 83.700.



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