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  • USD/INR closed well below 71.29 (Thu’s low) on Friday, validating the repeated rejection at the 100-day moving average (MA) hurdle and Thursday’s bearish marubozu candle.
  • The pair, therefore, risks falling to 70.86 (Jan. 31 low) this week. A close below that level would only bolster the bearish setup and expose the support lined up at 70.52 (Jan. 3 high).
  • Bearish pressures would weaken if the spot finds acceptance above 71.29. The outlook would turn bullish above the 100-day moving average (MA), currently at 71.76.

Daily chart

Trend: bearish


       Today Last Price:  71.245
       Today Daily change:  0.0750  pips
       Today Daily change %:  0.11%
       Today Daily Open:  71.17
       Daily SMA20:  71.1902
       Daily SMA50:  70.8221
       Daily SMA100:  71.7593
       Daily SMA200:  70.3975
       Previous Daily High:  71.59
       Previous Daily Low:  71.015
       Previous Weekly High:  71.915
       Previous Weekly Low:  71.015
       Previous Monthly High:  71.64
       Previous Monthly Low:  69.185
       Daily Fibonacci 38.2%:  71.2346
       Daily Fibonacci 61.8%:  71.3704
       Daily Pivot Point S1:  70.9267
       Daily Pivot Point S2:  70.6833
       Daily Pivot Point S3:  70.3517
       Daily Pivot Point R1:  71.5017
       Daily Pivot Point R2:  71.8333
       Daily Pivot Point R3:  72.0767