Repeated failures to cross 100-DMA portray USD/INR weakness. Downward sloping RSI favors further declines with 21-DMA likely offering a pullback. Despite trading below 100-DMA, the 21-day moving average (DMA) restricts USD/INR declines as it takes the rounds to 68.7500 while heading into the European session on Tuesday. Should a downward sloping 14-day relative strength index (RSI) drags the quote below 68.7390 DMA support, 68.57/58 and 68.25 can come back on the chart. Meanwhile, 23.6% Fibonacci retracement of May – July drop, at 68.89, seem nearby resistance, a break of which may trigger fresh upside targeting 69.10 and 69.29/30 area comprising 38.2% Fibonacci retracement level and 100-DMA. If at all prices rally past-69.30, buyers may rush towards 70.00 round-figure during the further rise. 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 US Dollar Index keeps pushing higher, approaches 98.20 FX Street 4 years Repeated failures to cross 100-DMA portray USD/INR weakness. Downward sloping RSI favors further declines with 21-DMA likely offering a pullback. Despite trading below 100-DMA, the 21-day moving average (DMA) restricts USD/INR declines as it takes the rounds to 68.7500 while heading into the European session on Tuesday. Should a downward sloping 14-day relative strength index (RSI) drags the quote below 68.7390 DMA support, 68.57/58 and 68.25 can come back on the chart. Meanwhile, 23.6% Fibonacci retracement of May - July drop, at 68.89, seem nearby resistance, a break of which may trigger fresh upside targeting 69.10 and 69.29/30 area comprising… 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.
