19-09-2018 05:40 PM
Scenario of RSI
The above mentioned USDINR history for prices gets to the highest level of percentage reading (relative strength index (RSI).
Based on the previous 10 years, the USDINRprice has arrived atthe RSI overbought meter level 85%, the maximum and has now consolidated to 68%. Depending on the current situation the markethas marked 84 % in the recent days and is likely to reach 85% which will be the highest level. Further to that, booking profit will take place and market will decline to 36 %.
The market is most likely to travel at the resistance level and all of a sudden turn downside to the support line.
(Next Resistance line at 73.5-74.5-75.5level, which is a channel resistance line)
Support line -71.70-70 level