Sustained trading beyond May month top propels USD/INR to an eight-month high. 23.6% Fibonacci retracement questions immediate upside amid overbought RSI. Despite rallying to the fresh yearly highs, USD/INR fails to successfully cross 23.6% Fibonacci retracement of January 2018 swing low to October 2018 swing high. The quote currently takes the rounds to 72.00 while heading into the European session on Friday. Other than failure to grow past-23.6% Fibonacci retracement level near 72.20, overbought conditions of 14-bar relative strength index (RSI) also raise doubts on the pair’s further upside. As a result, the 71.55/50 horizontal support gains short-term sellers’ attention as a break of which can drag the pair to May month high close to 71.00. On the upside, a sustained trading pattern beyond 72.20 enables buyers to target December 2018 high of 72.82 whereas 73.50, November 2018 top at 74.26 and 74.96 can please the bulls afterward. USD/INR weekly 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 NZ: Spending growth has taken a stepdown – Westpac FX Street 4 years Sustained trading beyond May month top propels USD/INR to an eight-month high. 23.6% Fibonacci retracement questions immediate upside amid overbought RSI. Despite rallying to the fresh yearly highs, USD/INR fails to successfully cross 23.6% Fibonacci retracement of January 2018 swing low to October 2018 swing high. The quote currently takes the rounds to 72.00 while heading into the European session on Friday. Other than failure to grow past-23.6% Fibonacci retracement level near 72.20, overbought conditions of 14-bar relative strength index (RSI) also raise doubts on the pair's further upside. As a result, the 71.55/50 horizontal support gains short-term sellers' attention… 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.
