- USD/INR prints six-day winning streak.
- The monthly resistance line will check buyers after 21-day SMA.
- 50-day SMA offers strong support amid bearish MACD.
USD/INR extends the five-day rise while printing 76.11 during the early Thursday. In doing so, the pair probes the weekly top while also confronting 21-day SMA amid bearish MACD.
Hence, buyers will wait for a daily closing beyond a 21-day SMA level of 76.13 to aim for the monthly resistance line of 76.63.
However, a sustained run-up beyond the monthly resistance line could challenge April month’s top near 77.40 with 77.00 round-figure likely acting as an intermediate halt.
Alternatively, April-end top near 75.47 can please sellers during the pullback whereas 50-day SMA, at 75.32, can challenge the bears afterward.
In a case where the USD/INR prices drop below 75.32, April month low of 74.95 should return to the charts.
USD/INR daily chart
Trend: Bullish
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