- USD/INR struggles to extend pullback moves from 75.24.
- 100-day EMA offers strong support amid bullish MACD.
- Bulls can challenge the monthly top above 21-day EMA.
USD/INR seesaws around 75.15, down 0.05% on a day, while heading into the European open on Friday. The quote fails to keep the previous day’s recovery moves as 21-day EMA guards immediate upside.
Though, bullish MACD keeps the bears cautious ahead of the 75.00 round-figure. Also challenging the further downside is a 100-day EMA level of 74.93 as well as July 06 top of 74.80.
During the pair’s further weakness past-74.80, the current month’s low near 74.52 will lure the bears.
On the contrary, a clear break above the 21-day EMA level of 75.27 will quickly challenge the monthly peak of 75.62, with late-June lows offering intermediate halt around 75.45.
Given the bulls’ ability to cross 75.62 on a daily closing basis, 75.80 and 76.00 could become their favorites.
USD/INR daily chart
Trend: Sideways
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