USD/INR bounces off 21-day EMA, clings to 23.6% Fibonacci retracement even after breaking four-week-old support-line. Sellers can look for 71.30 on the break below the near-term moving average. Despite breaking a month-old support-line, USD/INR fails to slip below the 21-day exponential moving average (EMA) as it takes the rounds to 71.62 ahead of Monday’s European open. Adding to the pair’s immediate support is 23.6% Fibonacci retracement of July-September upside, at 71.60, a break of which will test 21-day EMA level of 71.47. In a case where prices slip below 71.47 on a daily closing basis, August 13 low near 71.30 and 50% Fibonacci retracement level close to 70.50/45 will flash on sellers’ radar. Alternatively, an upside clearance of 72.30 enables the pair to again head for 73.00 with the latest high surrounding 72.65 likely being an intermediate halt. USD/INR daily chart Trend: bullish 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 Australian housing finance approvals rebound – Westpac FX Street 4 years USD/INR bounces off 21-day EMA, clings to 23.6% Fibonacci retracement even after breaking four-week-old support-line. Sellers can look for 71.30 on the break below the near-term moving average. Despite breaking a month-old support-line, USD/INR fails to slip below the 21-day exponential moving average (EMA) as it takes the rounds to 71.62 ahead of Monday's European open. Adding to the pair's immediate support is 23.6% Fibonacci retracement of July-September upside, at 71.60, a break of which will test 21-day EMA level of 71.47. In a case where prices slip below 71.47 on a daily closing basis, August 13 low near 71.30… 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.
