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  • USD/INR is trading in a rectangle formation.
  • The level to beat for bulls is the 71.60 resistance.

USD/INR weekly chart

USD/INR is trading in a rectangle consolidation after the 2018 bull run; it is now holding above the main weekly simple moving averages (SMAs).

USD/INR daily chart

The spot is trading in a rectangle formation while respecting the 70.40-72.40 range as it is holding above the main simple moving average (SMA). As the market is rejecting the 70.40 support and reversing from the lower end of the range, the market could be set to extend its bullish move towards 71.60, 72.00 and 72.40 levels

Additional key levels