USD/INR nears the record high flashed during the last week. The depleting strength of MACD histogram, overbought RSI conditions signal a pullback. January month high, yearly support line can lure sellers. USD/INR drops back to re-test 10-day SMA, while flashing 74.04 as a quote, down 0.34%, ahead of the European session on Tuesday. Despite flashing the record high of 75.65 on Friday, the pair failed to extend the run-up while remaining below 23.6% Fibonacci retracement of its run-up from January low to the latest high. Considering the failures to extend the run-up, coupled with softening MACD histogram strength and declining RSI from the overbought area, USD/INR prices are likely to register fresh pullbacks. In doing so, a 10-day SMA level of 74.07 can act as the trigger for the fresh downside towards a 50% Fibonacci retracement level of 73.10. However, January month high near 72.57 could question the bears afterward. Alternatively, buyers will wait for a sustained rise past-23.6% Fibonacci retracement level of 74.45, to aim for 75.00 and extend the northward trajectory beyond 75.65 towards 76.00 round-figure. USD/INR daily chart Trend: Pullback expected 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 Bitcoin Gold Price Prediction: BTG/USD trends horizontally as bulls attempt to make up for Monday’s losses FX Street 2 years USD/INR nears the record high flashed during the last week. The depleting strength of MACD histogram, overbought RSI conditions signal a pullback. January month high, yearly support line can lure sellers. USD/INR drops back to re-test 10-day SMA, while flashing 74.04 as a quote, down 0.34%, ahead of the European session on Tuesday. Despite flashing the record high of 75.65 on Friday, the pair failed to extend the run-up while remaining below 23.6% Fibonacci retracement of its run-up from January low to the latest high. Considering the failures to extend the run-up, coupled with softening MACD histogram strength and declining… 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.
