The Dollar is strengthening against Indian Rupee in long-term. Currently Dollar is moving in sideways and the USDINR is trading in oversold level. In USDINR HOLD SHORT positions as USDINR has formed a new 5 day high but the trend looks weak therefore, it would be better to buy above 53.173.
Support: 51.72-50.83-49.62-47.12.
Resistance: 53.20-53.36-53.52.
Strategy:
Sell if open below 52.556 with a strict stop loss at 53.037 or sell below 52.421. Do not buy untill it cross 53.173.
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