USD/INR follows the range between 38.2% and 23.6% Fibonacci retracement of 2018 upside. 21/50-bar SMA confluence restricts the pair’s near-term declines. Although USD/INR has recently lost momentum, the pair trades well above the key support while taking rounds to 70.95 ahead of Friday’s European session. The pair observes the range between 23.6% and 38.2% Fibonacci retracement of 2018 upside since early-August, which in turn defies calls of any major moves till the prices offer a weekly close either above 72.20 or below 70.45. Also challenging the bears is 70.30/28 confluence region including 21 and 50-bar Simple Moving Average (SMA) on the weekly chart. In a case where the quote slips below 70.28 on a weekly basis, 70.00 round-figure could offer an intermediate halt prior to pleasing sellers with 69.80 and 50% Fibonacci retracement level of 69.08. Meanwhile, an upside clearance above 72.20 can avail 72.80, 73.30 and 74.00 as buffers ahead of targeting December 2018 top surrounding 75.00. USD/INR weekly chart Trend: sideways 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 UK: Focus on Article 50 extension today – TDS FX Street 3 years USD/INR follows the range between 38.2% and 23.6% Fibonacci retracement of 2018 upside. 21/50-bar SMA confluence restricts the pair's near-term declines. Although USD/INR has recently lost momentum, the pair trades well above the key support while taking rounds to 70.95 ahead of Friday's European session. The pair observes the range between 23.6% and 38.2% Fibonacci retracement of 2018 upside since early-August, which in turn defies calls of any major moves till the prices offer a weekly close either above 72.20 or below 70.45. Also challenging the bears is 70.30/28 confluence region including 21 and 50-bar Simple Moving Average (SMA) on… 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.
