USD/INR Price News: Bulls in control and eye 74 the figure

  • SD/INR bulls sit tight at the 38.2% ratio and wait to target the 74 figure. 
  • On the flip side, a break of support opens risk of a test 73 the figure. 

USD/INR has moved higher and broken out of the range that was bounded by the 10 and 21 EMAs the prior day.

The pair has moved up from a 38.2% Fibonacci retracement level following a touch of the 50% mean reversion.

The following illustrates the progress since the prior day’s daily chart.

USD/INR prior analysis

USD/INR live market

Bulls eye the daily resistance and old daily support near 74 the figure. The 74 figure meets the prior daily support ahead of the 74.50s.

On the flipside, 73.16 will be eyed ahead of dynamic trendline support on a break of 73 the figure. 

Source

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