USD/INR jumped to 69.35 last Thursday, confirming an ascending triangle breakout (bear-to-bull trend change) on the 4-hour chart. The follow-through on Friday, however, was weak with the pair back to 69.11. As a result, the immediate outlook is neutral and a break above 69.35 is needed to revive the bull setup.
A break above that level would put the focus back on the triangle breakout and open the doors to 70.00. That looks likely as the 5- and 10-day MAs are biased bullish, having produced a bullish crossover last week.
The bullish case, however, would weaken if the support at 68.76 is breached.
4-hour chart
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Trend: Bull above 69.35
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