The daily trend of USDINR continues with higher and positive for the last 4 trading sessions and interesting volatility is also rising for the last couple of days.
Amid coronavirus fears, our entire nation goes for a lockdown of 21 days will result in the shutdown of various businesses impacts the core fundamentals of USDINR. Last Tuesday USDINR Futures ended with an extreme indication which is a clear indication of a possible gap up is brewing in the current environment.
From the market profile charts we learned that too many weaker hand sellers competed around ATH. A Fresh All time high is due in a very short term
Overall a strong short-covering rally is due in USDINR in a near term reaching 77-78 levels faster with a possible gap up scenario.
