USD/INR Technical Analysis: 71.40/35 acts as near-term key support confluence
USD/INR bounces off 50-bar EMA while taking the bids to 71.72 during a pre-European session on Monday.
Dollar/rupee is now heading towards the monthly top nearing 72.37 whereas the September month peak near 72.63 and December month high around 72.82 can entertain buyers ahead of diverting them to 73.00 round-figure. Read more…
USD/INR Technical Analysis: Intraday uptick takes a brief pause near 100-hour SMA
Having defended 38.2% Fibonacci level of the 70.53-72.37 on the daily closing basis, USD/INR has managed to regain some positive traction on the first day of a new trading week.
Currently hovering around the 71.60 region, the pair snapped two consecutive days of losing streak and recovered a part of the Friday’s follow-through pullback from two-month tops. Read more…
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