USD/INR sellers snap two-day downtrend, attack two-month-old horizontal support. Sustained trading below 50-day SMA, RSI conditions suggest further downside. Ascending trend line from September lures the bears. USD/INR wavers around 73.50 while trying to defend the short-term horizontal support area during early Wednesday. The pair’s repeated failures to cross 50-day SMA amid an absence of overbought or oversold RSI keeps the sellers hopeful. Though, a daily closing below the horizontal area established since mid-October, around 73.45/50, becomes necessary to please the USD/INR bears. Following the quote’s downside break of 73.45, an upward sloping support line from September 01, at 73.30 now, will be the key to watch as it holds the gate for the pair’s further declines. On the flip side, even the intraday buyers of USD/INR may rethink to take entries before witnessing an upside break of the 50-day SMA level of 73.89. It should also be noted that the 74.00 threshold adds to the upside filters. Overall, the bears should remain cautious after a notable dominance for the last one month. 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 Elrond Technical Analysis: EGLD 250% rally seems unstoppable despite technicals spelling doom FX Street 2 years USD/INR sellers snap two-day downtrend, attack two-month-old horizontal support. Sustained trading below 50-day SMA, RSI conditions suggest further downside. Ascending trend line from September lures the bears. USD/INR wavers around 73.50 while trying to defend the short-term horizontal support area during early Wednesday. The pair’s repeated failures to cross 50-day SMA amid an absence of overbought or oversold RSI keeps the sellers hopeful. Though, a daily closing below the horizontal area established since mid-October, around 73.45/50, becomes necessary to please the USD/INR bears. Following the quote’s downside break of 73.45, an upward sloping support line from September 01, at 73.30… 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.
