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DOLLAR-INR TECHS: Topside Failures Taking Their Toll
*RES 4: Inr65.525 - Bollinger band top
*RES 3: Inr65.413 - High Oct 9
*RES 2: Inr65.2047 - 200-DMA
*RES 1: Inr65.003 - Daily Bear channel top
*PRICE: Inr64.745 @ 2300GMT
*SUP 1: Inr64.685 - Low Oct 16
*SUP 2: Inr64.645 - Bollinger band base
*SUP 3: Inr64.543 - 55-DMA
*SUP 4: Inr64.466 - 100-DMA
*COMMENTARY: Having remained capped ahead of the 21 (Inr65.085) and 200-DMAs on
the recovery from Inr64.685 the pair is again looking heavy with immediate focus
on Inr64.685. Bears need a close below to shift focus to Inr64.190-543 where 55
& 100-DMAs and the bear channel base are situated. The Bollinger base is the key
concern for bears with potential to limit follow through. Bulls need a close
above the 200-DMA to end bearish hopes and shift focus back to Inr65.413-890.