The USD/INR pair stays inside a month-old range despite bouncing off 21-day SMA. Bullish MACD, sustained trading beyond 70.35 favor buyers. 23.6% Fibonacci retracement of July-September upside acts as immediate resistance. Despite taking a U-turn from 21-day Simple Moving Average (SMA), USD/INR remains inside a month-old symmetrical triangle while taking rounds to 71.30 ahead of Friday’s European session. However, a 23.6% Fibonacci retracement level of 71.60 can entertain short-term buyers. Also, a downside break below 21-day SMA level of 71.07 can take rest on 38.2% Fibonacci retracement level of 70.95. On either side breaks of pattern extremes, namely 71.75 resistance and 70.88 support, prices can register larger moves towards 72.35 or 70.35. It should also be noted that repeated recoveries from 70.35 and the bullish signal from 12-bar Moving Average Convergence and Divergence (MACD) keep buyers optimistic. USD/INR daily 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 US Dollar Index clings to gains around 97.60, Fedspeak eyed FX Street 3 years The USD/INR pair stays inside a month-old range despite bouncing off 21-day SMA. Bullish MACD, sustained trading beyond 70.35 favor buyers. 23.6% Fibonacci retracement of July-September upside acts as immediate resistance. Despite taking a U-turn from 21-day Simple Moving Average (SMA), USD/INR remains inside a month-old symmetrical triangle while taking rounds to 71.30 ahead of Friday's European session. However, a 23.6% Fibonacci retracement level of 71.60 can entertain short-term buyers. Also, a downside break below 21-day SMA level of 71.07 can take rest on 38.2% Fibonacci retracement level of 70.95. On either side breaks of pattern extremes, namely 71.75 resistance… 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.
