USD/INR reports losses after rejection at falling trendline resistance. SMA studies and RSI signal a bearish bias. USD/INR’s CFD is currently trading at 74.50, representing a 0.16% gain on the day. The daily chart shows the pair is flashing red, having failed to take out the resistance of the trendline connecting June 16 and July 14 highs on Tuesday and Wednesday. That coupled with a below-50 or bearish reading on the 14-day relative strength index and a bearish crossover of the 50- and 100-day simple moving averages (SMAs) suggests scope for a fresh drop toward the July 6 low of 73.83. The bearish bias would be invalidated if the spot rises above the descending trendline hurdle. That said, a move above the lower high of 75.36 created on July 14 is needed to confirm a bullish reversal. Daily chart Trend: Bearish 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 Pound Sterling Price News and Forecast: March high of 1.3200 lures the bulls FX Street 3 years USD/INR reports losses after rejection at falling trendline resistance. SMA studies and RSI signal a bearish bias. USD/INR's CFD is currently trading at 74.50, representing a 0.16% gain on the day. The daily chart shows the pair is flashing red, having failed to take out the resistance of the trendline connecting June 16 and July 14 highs on Tuesday and Wednesday. That coupled with a below-50 or bearish reading on the 14-day relative strength index and a bearish crossover of the 50- and 100-day simple moving averages (SMAs) suggests scope for a fresh drop toward the July 6 low of… 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.
