USD/INR remains stuck in the recent narrow trading range. A breakout would set to the tone for fresh record highs. Indian Rupee is lacking a clear directional bias as evidenced by USD/INR’s recent sideways churn in the range of 75.00 to 76.24. A close above 76.24 would mean that the pullback from the April 22 high of 77.008 has ended and the bulls have regained control. The Rupee, then, could go on to revisit its lifetime lows around 77.00. On the flipside, acceptance under 75.00 would imply a continuation of the pullback from 77.00 and open the doors to 74.00. At press time, USD/INR is trading 75.77. The pair’s 14-day relative strength index is trapped in a falling channel. A breakout on the RSI could also be considered a sign of bull revival. 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 BI to cut interest rates by 25bps this week – HSBC FX Street 2 years USD/INR remains stuck in the recent narrow trading range. A breakout would set to the tone for fresh record highs. Indian Rupee is lacking a clear directional bias as evidenced by USD/INR's recent sideways churn in the range of 75.00 to 76.24. A close above 76.24 would mean that the pullback from the April 22 high of 77.008 has ended and the bulls have regained control. The Rupee, then, could go on to revisit its lifetime lows around 77.00. On the flipside, acceptance under 75.00 would imply a continuation of the pullback from 77.00 and open the doors to 74.00. … Top 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.
