- USD/INR’s break below 73.48 would revive the bearish bias.
- A breakdown would pave the way for a re-test of September lows.
USD/INR fell by 0.32% to 73.54 on Wednesday,
The critical support to watch out for now is 73.48. A violation there would mark a downside break of a rising wedge-like pattern represented by trendlines connecting Sept. 1 and Sept. 18 lows and Sept. 8 and Sept. 24 highs.
A breakdown would imply an end of the bounce from the Sept. 1 low of 73.25 and signal a resumption of the sell-off from the Aug. 20 high of 75.13.
The breakdown would open the doors for a re-test of the Sept. 1 low of 72.76.
Daily chart
Trend: Bearish below 73.48
Technical levels
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