USD-INR WEEKLY 9313

THE PAIR FORMED A BEARISH ENGULFING PATTERN ON A WEEKLY CHART AND FAILED TO HOLD 55.35 LEVELS. BELOW 54.54 LEVELS THE PAIR LOOKS WEAK. TWO MORE CONSECUTIVE CLOSES BELOW 54.54 CAN LEAD THE PAIR TO 53.65. ON UPPER SIDE 54.8 IS THE RESISTANCE ABOVE THE SAID LEVEL IT CAN TGT 55.15-55.35 LEVELS. BELOW 54.54 SHORT POSITION CAN BE INITIATED WITH THE SL OF 54.8 FOR THE TGT OF 53.65. IMMEDIATE SUPPORT AT 54.2 AND 53.8