FUNDAMENTALOVERVIEWUSD:The US dollar has been supported since the last FOMC decision as the morehawkish than expected dot plot led to a quick repricing in interest rateexpectations with traders increasing rate hike probabilities. There is now 32 bps of tightening priced in by year-end. There's a 29%chance of a hike in July and 62% probability of a move in September.There’s been a slightly dovish repricing in the last few days. One of thereasons could be the huge selloff in oil prices which have now reached pre-warlevels. The other reason is that the hawkish repricing might have reached anear-term peak and for more we will likely need upside surprises in the NFP andCPI reports.Although the greenback should remain supported into the data, we mightstart to see some consolidation or even pullbacks if we don’t get anymeaningful catalyst before the key US data.INR:On the INR side, theRupee has been supported amid falling oil prices that have eventually reachedpre-war levels. More recently, the price action became rangebound as the surprisinglyhawkish FOMC decision boosted the US dollar across the board. In the bigpicture, the Indian Rupee remains on a bearish structural trend against the US dollar,so the dip-buyers will likely look for opportunities around strong technicallevels to keep pushing the USD/INR pair into new highs. USDINR TECHNICALANALYSIS – DAILY TIMEFRAMEOn the dailychart, we can see that USDINR is still consolidating just below the 95.00 handle. We have a major downwardtrendline defining the bearish momentum. We can expect the sellers to lean onthe trendline with a defined risk above it to keep pushing into new lows. Thebuyers, on the other hand, will look for a break to pile in for a rally intothe 96.00 handle next. USDINR TECHNICALANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hourchart, we can see more clearly that we have a strong resistance zone around the95.10 area where there’s also the downward trendline for confluence. That’swhere we can expect the sellers to step in with a defined risk above thetrendline to position for a drop into the 94.00 handle. The buyers, on theother hand, will want to see the price breaking higher to open the door for arally into new highs.USDINR TECHNICALANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hourchart, we have a minor upward trendline defining the current pullback into the95.10 resistance. The buyers will likely continue to lean on the trendline tokeep pushing into new highs, while the sellers will look for a break lower to pilein for a drop into the 94.00 handle next.UPCOMING CATALYSTSTomorrow, we get the US JobOpenings data and the US Consumer Confidence report. On Wednesday, we have theUS ADP report and the US ISM Manufacturing PMI. On Thursday, we conclude withthe US NFP report, and the US Jobless Claims figures. This article was written by Giuseppe Dellamotta at investinglive.com.