USD/INR is on a recovery mode for the third consecutive day. 23.6% Fibonacci retracement of July-September limits immediate upside. A downward sloping trend-line since September 03 adds to the resistance. The USD/INR pair’s successful run-up for the third consecutive day propels it to 71.32 ahead of the European open on Tuesday. However, the pair still trades below 23.6% Fibonacci retracement level of 71.58 that has been restricting the upside since month-start, a break of which could escalate the recovery towards six-week-old falling trend-line resistance, at 71.78. In a case prices keep rising past-71.78, 72.33 and 72.65 will be on the bulls’ radar. Meanwhile, 70.75 can entertain short-term sellers ahead of pleasing them with 70.35/30 area including two-month long horizontal support and 200-day Exponential Moving Average (EMA). 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 XRP becomes more decentralized, only 20% validators related to Ripple FX Street 4 years USD/INR is on a recovery mode for the third consecutive day. 23.6% Fibonacci retracement of July-September limits immediate upside. A downward sloping trend-line since September 03 adds to the resistance. The USD/INR pair's successful run-up for the third consecutive day propels it to 71.32 ahead of the European open on Tuesday. However, the pair still trades below 23.6% Fibonacci retracement level of 71.58 that has been restricting the upside since month-start, a break of which could escalate the recovery towards six-week-old falling trend-line resistance, at 71.78. In a case prices keep rising past-71.78, 72.33 and 72.65 will be on the… 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.
