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  • USD/INR slips from the record high, stays inside rising channel.
  • Bullish MACD, nearly normal RSI conditions favor the buyers.
  • Sellers can aim for December 2018 top during the channel’s downside break.

Following its uptick to the record high of 75.76, USD/INR takes rounds to 75.25, up 0.45%, during the initial minutes of the Indian session on Thursday.

Despite the recent pullback, the pair remains inside a short-term rising channel formation. Also supporting the odds of the quote’s further upside could be bullish MACD and an absence of overbought RSI conditions.

That said, the pair can challenge the channel’s resistance line of 75.80 as the immediate upside barrier whereas 76.00 could lure the bulls afterward.

On the contrary, the pair’s declines below the channel’s support line, currently at 73.85, will trigger the fresh downside targeting December 2018 top near 72.90.

USD/INR four-hour chart

Trend: Bullish