USD/INR drops to one week low, nears short-term key support confluence. The immediate falling trend line, 61.8% Fibonacci retracement challenge buyers. While extending its pullback from 61.8% Fibonacci retracement of September month declines, USD/INR revisits one week low as it traders around 71.00 ahead of Monday’s European session. The pair nears 70.91/90 support confluence including 23.6% Fibonacci retracement and three-week-old rising trend line. Also doubting the pair’s further weakness is downbeat conditions of 14-bar Relative Strength Index (RSI). As a result, pair’s bounce off immediate falling trend-line, at 71.40, can’t be denied, a break of which could further escalate recovery towards 61.8% Fibonacci retracement level of 71.77. Should prices manage to remain strong above 71.77, 72.33 and September month high around 72.63 will lure the bulls. On the downside, pair’s extended south-run past-70.90 can take rest around 70.70 and 70.63 ahead of retesting September month low of 70.37. USD/INR 4-hour 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 While EUR saw broad-based buying, funds and asset managers took offsetting positions on GBP – ANZ FX Street 3 years USD/INR drops to one week low, nears short-term key support confluence. The immediate falling trend line, 61.8% Fibonacci retracement challenge buyers. While extending its pullback from 61.8% Fibonacci retracement of September month declines, USD/INR revisits one week low as it traders around 71.00 ahead of Monday's European session. The pair nears 70.91/90 support confluence including 23.6% Fibonacci retracement and three-week-old rising trend line. Also doubting the pair's further weakness is downbeat conditions of 14-bar Relative Strength Index (RSI). As a result, pair's bounce off immediate falling trend-line, at 71.40, can't be denied, a break of which could further escalate recovery… 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.
