In the daily time frame, USDINR had been forming the Symmetrical Triangle Pattern from mid-March. The prices started the southward journey after witnessing a pullback from the upper trendline. Recently, the pair managed to piece the lower trendline and likely to extend the southward journey. Further, the dots of the Parabolic SAR indicator are above the prices, supporting the bearishness in the pair. Thus, traders can grab the sell opportunity and keep the profit target at a 71.65 level. Simultaneously, the stop loss can be set at the 75.39 level.
In the daily time frame, USDINR had been forming the Symmetrical Triangle Pattern from mid-March. The prices started the southward journey after witnessing a pullback from the upper trendline. Recently, the pair managed to piece the lower trendline and likely to extend the southward journey. Further, the dots of the Parabolic SAR indicator are above the prices, supporting the bearishness in the pair. Thus, traders can grab the sell opportunity and keep the profit target at a 71.65 level. Simultaneously, the stop loss can be set at the 75.39 level.