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  • 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