USD INR Technical Analysis

...USD INR at Crucial Pivot Point

USD INR is in a downtrend since October 2018. This 8.50% downfall in the prices has supported Nifty during the period.

During this downside period, we have seen Nifty rising from 10,000 to 12,100 levels.

Now at present INR is trading near significant Pivot Point. If prices manage to hold 69.25 level on a weekly basis, then we may see a rise in the prices.

The first crucial hurdle on the upside is located at 70.10 level; above it, we can see a rise towards 70.50/71.05 level.

The rise in the prices of INR can also give support to the CRUDE OIL prices, which are in a downtrend since April last week.