USD/INR trim intraday gains as traders step back from the key resistance line. 21-day and 50-day SMA adds to the upside barriers. Bearish momentum gains more acceptance amid weak RSI. USD/INR drops top 72.96 while stepping back from the intraday high during the initial Indian trading session on Friday. In doing so, the pair seems to register another failure in crossing the trend line resistance from December 23. The downside move also gains support from sluggish RSI and sustained trading below the key SMAs. However, the Indian government budget is up for publishing on February 01 and hence keep the pair traders cautious. As a result, the USD/INR bears are likely to attack the monthly low unless providing a daily closing beyond the stated resistance line, at 72.98 now. Following that, 21-day and 50-day SMA levels, respectively around 73.10 and 73.45, could precede the monthly top of 73.56 to challenge the USD/INR bulls. On the contrary, a sustained downside below the monthly low of 72.81 will eye for September bottom surrounding 72.75 whereas the late-2019 tops close to 72.20 may lure the sellers afterward. USD/INR daily chart Trend: Bearish 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 Pitch: Zilliqa Price Prediction: ZIL on the verge of a 67% move following extended consolidation FX Street 1 year USD/INR trim intraday gains as traders step back from the key resistance line. 21-day and 50-day SMA adds to the upside barriers. Bearish momentum gains more acceptance amid weak RSI. USD/INR drops top 72.96 while stepping back from the intraday high during the initial Indian trading session on Friday. In doing so, the pair seems to register another failure in crossing the trend line resistance from December 23. The downside move also gains support from sluggish RSI and sustained trading below the key SMAs. However, the Indian government budget is up for publishing on February 01 and hence keep the… 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.
