USD/INR’s daily chart shows a symmetrical triangle pattern. A triangle breakdown would expose a widely-tracked simple moving average support. USD/INR fell by 0.38% on Tuesday, keeping intact a four-week-long narrowing price range represented by trendlines connecting April 30 and May 12 lows and May 6 and May 18 highs. As of Wednesday, the upper and lower ends of the narrowing price range of the symmetrical triangle are located at 75.90 and 75.25, respectively. A close above 75.90 would confirm a triangle breakout and imply an end of the pullback from highs near 77 registered last month. The breakout would open the doors to a re-test of 77.00. On the other hand, a range breakdown, if confirmed, would indicate a resumption of the sell-off from 77.00 and shift risk in favor of a slide to the ascending 100-day simple moving average 73.94. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB’s Schnabel: Not adjusting monetary policy in any way in response to German court ruling FX Street 3 years USD/INR's daily chart shows a symmetrical triangle pattern. A triangle breakdown would expose a widely-tracked simple moving average support. USD/INR fell by 0.38% on Tuesday, keeping intact a four-week-long narrowing price range represented by trendlines connecting April 30 and May 12 lows and May 6 and May 18 highs. As of Wednesday, the upper and lower ends of the narrowing price range of the symmetrical triangle are located at 75.90 and 75.25, respectively. A close above 75.90 would confirm a triangle breakout and imply an end of the pullback from highs near 77 registered last month. The breakout would open… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
