USD/INR, currently at 68.35, is reporting losses for the 11th straight day and could soon drop to key support at 68.27 (daily lows in July and early August 2018). The 50-day moving average (MA) has dropped below the 200-day MA, confirming a bearish crossover, which is widely known as the “death cross”. Based on backward-looking moving averages, the death cross lags price action and has limited predictive abilities at best. That said, a daily close below 68.27 would only bolster the already bearish setup and expose the next major support at 67.71 (June 22 low). The bearish setup would be invalidated if and when the spot sees a daily close above the 10-day MA, currently at 69.455. Daily chart Trend: Sell-off continues 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 Asia firms spend less and save more as China economy slows – Reuters FX Street 4 years USD/INR, currently at 68.35, is reporting losses for the 11th straight day and could soon drop to key support at 68.27 (daily lows in July and early August 2018). The 50-day moving average (MA) has dropped below the 200-day MA, confirming a bearish crossover, which is widely known as the "death cross". Based on backward-looking moving averages, the death cross lags price action and has limited predictive abilities at best. That said, a daily close below 68.27 would only bolster the already bearish setup and expose the next major support at 67.71 (June 22 low). 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.
