The initial weakness came from the FOMC rate decision as the extra dissent from Fed’s Kashkari wasn’t taken as a major hawkish surprise. The losses then extended on Friday when reports confirmed that US Treasury participated in the intervention, the first joint operation since 2011. On Wednesday, we have the RBI rate decision which is expected to keep the repo rate unchanged at 5.25%. USDINR TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see the price action is forming a potential falling wedge. On Wednesday, we have the RBI rate decision, the US ADP and ISM Services PMI.