USD/INR stands on slippery ground, eyes the lowest levels since December 02. Multiple stops can probe further downside before October lows. 100-bar SMA, three-week-old resistance line challenge bulls during the pullback. USD/INR drops to 73.45, down 0.21% intraday, amid the initial Indian trading session on Thursday. In doing so, the pair slips below the weekly bottom while eyeing the monthly trough. Considering the bearish MACD, as well as sustained trading below 100-bar SMA and a falling trend line from November 27, USD/INR is likely to stay south for a bit longer. However, a clear downside break below the monthly low of 73.41, will find multiple supports around 73.30 and 73.20 before directing sellers toward the October trough near 72.95. Meanwhile, any pullback will have to cross the 100-bar SMA level of 73.74 to convince USD/INR buyers. Also acting as an upside hurdle is a short-term resistance line, at 73.88 and the 74.00 round-figure. In a case where the bulls remain dominant past-74.00 round-figure, late-November highs near 74.25/30 will be the key. USD/INR four-hour 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 Bitcoin Price Prediction: BTC could hit $1 million by 2022 – reckons Coinfund’s Seth Ginns FX Street 2 years USD/INR stands on slippery ground, eyes the lowest levels since December 02. Multiple stops can probe further downside before October lows. 100-bar SMA, three-week-old resistance line challenge bulls during the pullback. USD/INR drops to 73.45, down 0.21% intraday, amid the initial Indian trading session on Thursday. In doing so, the pair slips below the weekly bottom while eyeing the monthly trough. Considering the bearish MACD, as well as sustained trading below 100-bar SMA and a falling trend line from November 27, USD/INR is likely to stay south for a bit longer. However, a clear downside break below the monthly low… 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.
