The USD/INR pair has bounced off again from the ascending 50-hour exponential moving average (EMA) and is trading on the offensive around 74.25. The prospects of the currency pair setting a new record high of 74.43 will remain high as long as the spot is trading above the 50-hour EMA. Only a break below the 50-hour EMA, currently located at 74.01 would open doors for a relief rally in the Indian rupee. The EUR/USD is signaling bullish reversal signs, hence a break below the 50-hour EMA cannot be ruled out. Hourly Chart Spot Rate: 74.26 Daily High: 74.28 Daily Low: 74.15 Trend: Bearish below 50-hour EMA Resistance R1: 74.43 R2: 75.00 (psychological hurdle) Support S1: 74.01 (50-hour EMA) S2: 73.83 (Oct. 9 low) S3: 73.40 (Oct. 5 low) 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 China’s yuan to trim losses on hopes trade risks will subside – Reuters Poll FX Street 4 years The USD/INR pair has bounced off again from the ascending 50-hour exponential moving average (EMA) and is trading on the offensive around 74.25. The prospects of the currency pair setting a new record high of 74.43 will remain high as long as the spot is trading above the 50-hour EMA. Only a break below the 50-hour EMA, currently located at 74.01 would open doors for a relief rally in the Indian rupee. The EUR/USD is signaling bullish reversal signs, hence a break below the 50-hour EMA cannot be ruled out. Hourly Chart Spot Rate: 74.26 Daily High: 74.28 Daily Low:… 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.
