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  • USD/INR is trading at fresh February highs.
  • The level to beat for bulls is the 72.00 resistance.
 

USD/INR weekly chart

 
Following the 2018 bull-run, the spot has been consolidating in a rectangle pattern. USD/INR is trading above the main weekly simple moving averages (SMAs), suggesting a bullish bias in the long term.  
 

USD/INR daily chart

 

USD/INR is rising toward the 2020 highs while bulls put pressure on the 72.00 figure. A daily close above the above-mentioned level would likely open the gates to further gains towards the 72.35 and 72.66. Support is seen near 71.60 and 71.20 levels.   
 

Additional key levels