USD/INR extends pullback from 200-bar SMA inside a bullish chart formation. MACD flirts with bears, challenges to short-term ascending channel can’t be ruled out. Having failed to cross 200-bar SMA, USD/INR recedes to 73.40, down 0.10% intraday, during the initial Indian session on Tuesday. Even so, the pair remains inside an upward sloping channel formation established since January 04. It should, however, be noted that the MACD conditions are easing off-late, which in turn suggests further deterioration in the quote towards the stated channel’s support line, at 73.69 now. If at all the USD/INR sellers defy the bullish chart pattern, the 73.00 round-figure and the monthly low near 72.85 will be in the spotlight. On the contrary, an upside break of 200-bar SMA, currently around 73.55, will escalate the week-long run-up in the direction of the upper line of the stated channel, at 74.00 now. While December 23 top of 74.12 could entertain the USD/INR buyers past-74.00, July 2020 bottom surrounding 74.50 may question any further upside. USD/INR four-hour 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 FX option expiries for Jan 12 NY cut FX Street 1 year USD/INR extends pullback from 200-bar SMA inside a bullish chart formation. MACD flirts with bears, challenges to short-term ascending channel can’t be ruled out. Having failed to cross 200-bar SMA, USD/INR recedes to 73.40, down 0.10% intraday, during the initial Indian session on Tuesday. Even so, the pair remains inside an upward sloping channel formation established since January 04. It should, however, be noted that the MACD conditions are easing off-late, which in turn suggests further deterioration in the quote towards the stated channel’s support line, at 73.69 now. If at all the USD/INR sellers defy the bullish chart pattern,… 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.
