The USD/INR pair closed well above the Jan. 21 high of 71.52 yesterday, reviving the bullish view put forward by the falling wedge breakout on Jan. 18.
Daily chart
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The bull breakout seen in the above chart is backed by the ascending 5- and 10-day moving averages (MAs) and the 14-day relative strength index (RSI), which is currently printing bullish conditions above 60.
USD/INR, therefore, could beat the 100-day moving average (MA), currently at 71.79, in a day or two and rise well above 72.00.
The bullish setup would be neutralized below the former resistance-turned-support of 71.52, although that looks less likely.
Trend: bullish
USD/INR
Overview:
Today Last Price: 71.695
Today Daily change: 0.0100 pips
Today Daily change %: 0.01%
Today Daily Open: 71.685
Trends:
Daily SMA20: 70.9848
Daily SMA50: 70.7255
Daily SMA100: 71.7909
Daily SMA200: 70.3029
Levels:
Previous Daily High: 71.91
Previous Daily Low: 71.4355
Previous Weekly High: 71.64
Previous Weekly Low: 70.82
Previous Monthly High: 71.64
Previous Monthly Low: 69.185
Daily Fibonacci 38.2%: 71.7287
Daily Fibonacci 61.8%: 71.6168
Daily Pivot Point S1: 71.4437
Daily Pivot Point S2: 71.2023
Daily Pivot Point S3: 70.9692
Daily Pivot Point R1: 71.9182
Daily Pivot Point R2: 72.1513
Daily Pivot Point R3: 72.3927
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