USD/INR stands on a slippery ground after stepping back from 21-day SMA. Downward sloping trend line from November, 100-day SMA add to the upside filters USD/INR drops to the intraday low of 73.31, down 0.16% on a day, declining for the first time in last four days, while heading into Friday’s European session. In doing so, the quote reverses from 21-day SMA amid normal RSI conditions, which in turn suggests further losses on the card. Although 73.20 becomes imminent support, the 73.00 and October 2020 low near 72.95 becomes the key levels to watch during the pair’s further downside. In a case where USD/INR bears dominate past-72.95, the yearly low around 72.85 and the September 2020 bottom near 72.76 will be the key to follow. Meanwhile, an upside clearance of 21-day SMA level of 73.47 isn’t a green signal for the USD/INR bull’s entry as 100-day SMA near 73.70 will precede downward sloping trend lines from November, respectively around 73.75 and 73.85 to challenge the further advances. Also, the 74.00 round-figure and the previous month’s peak surrounding 74.15 are additional resistance that challenges the USD/INR bulls. USD/INR daily chart Trend: Further weakness 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 Litecoin Price Analysis: LTC recovery to $180 could be an uphill battle – Confluence Detector FX Street 11 months USD/INR stands on a slippery ground after stepping back from 21-day SMA. Downward sloping trend line from November, 100-day SMA add to the upside filters USD/INR drops to the intraday low of 73.31, down 0.16% on a day, declining for the first time in last four days, while heading into Friday’s European session. In doing so, the quote reverses from 21-day SMA amid normal RSI conditions, which in turn suggests further losses on the card. Although 73.20 becomes imminent support, the 73.00 and October 2020 low near 72.95 becomes the key levels to watch during the pair’s further downside. In… Top 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.
