USD/INR remains below 61.8% Fibonacci retracement for the last four weeks. The yearly bottom holds the key to 70.00. A descending trend line from early January adds to the resistance. USD/INR trades modestly negative around 71.23 during the initial hours of the Indian session on Friday. In doing so, the pair remains above the short-term rising support line. Though, repeated failures to cross the key Fibonacci retracement and a resistance line continue to favor the sellers. As a result, the bears can take entry as soon as the prices drop below 71.15 support line, targeting the yearly low near 70.58. The buyers are likely to sneak in around 70.20 or 70.00 during the pair’s further downside below 70.58. Alternatively, a downward sloping trend line from January 08, at 71.65, followed by 61.8% Fibonacci retracement of the pair’s early-January drop, at 71.81, will be the key resistances to watch. Should prices manage to remain strong above 71.81, 72.00 and the yearly top close to 72.60 will return to the charts. USD/INR four-hour chart Trend: SIdeways 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 GBP/USD battle lines ahead of the Non-Farm Payrolls”” Confluence Detector FX Street 2 years USD/INR remains below 61.8% Fibonacci retracement for the last four weeks. The yearly bottom holds the key to 70.00. A descending trend line from early January adds to the resistance. USD/INR trades modestly negative around 71.23 during the initial hours of the Indian session on Friday. In doing so, the pair remains above the short-term rising support line. Though, repeated failures to cross the key Fibonacci retracement and a resistance line continue to favor the sellers. As a result, the bears can take entry as soon as the prices drop below 71.15 support line, targeting the yearly low near 70.58.… 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.