USDINR - 11Oct2021
On H4, USDINR bounced and closed above the major resistance of 75.12 at the last hour. This could be a bull trap as both H4 and H1 Stochastic and RSI indicating negative bearish divergence.
We could expect it to pull back to 1st Support before going much higher in the future.
This is for personal record purposes only, not financial advise or solicitation of trade.
On H4, USDINR bounced and closed above the major resistance of 75.12 at the last hour. This could be a bull trap as both H4 and H1 Stochastic and RSI indicating negative bearish divergence.
We could expect it to pull back to 1st Support before going much higher in the future.
This is for personal record purposes only, not financial advise or solicitation of trade.