INR Contract Range — Testing the Lower End

Watching the $INR USD/INR contract on Kalshi today. It's been range-bound for a bit, and we're seeing it push down to the lower end of that range, currently around 12.97. The day's low was 12.44, which suggests some decent support if it gets that far.

My take is that if it breaks convincingly below 12.44, we might see a more significant leg down. But as long as it holds above that level, the range play is still in effect. I'd consider a close above 13.29 a sign that the bears are losing control, potentially invalidating the current downside pressure.