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  • The falling wedge breakout seen in the USD/INR 4-hour chart indicates that the pullback from the record high of 74.48 reached on Oct. 11 has ended and that level could be put to test in the next few days.
  • The RSI on the 4-hour chart is holding in bullish territory above 50.00 and is looking north.
  • The falling wedge breakout also adds credence to the bullish view put forward by the still ascending 5-week and 10-week EMAs. Indeed, the pair has produced a strong bounce from the bullish 5-week EMA.
  • Acceptance below the 200-candle EMA on the 4-hour chart would weaken the bullish pressure.
  • Currently, the USD/INR is trading at 73.86 – up 0.30 percent on the day.

4-hour Chart

USD/INR

Overview:
       Last Price:  73.694
       Daily change:  0.0  pips
       Daily change:  0.00%
       Daily Open:  73.694
Trends:
       Daily SMA20:  73.6558
       Daily SMA50:  72.5226
       Daily SMA100:  70.6265
       Daily SMA200:  68.1585
Levels:
       Daily High:  73.709
       Daily Low:  73.419
       Weekly High:  73.847
       Weekly Low:  73.095
       Monthly High:  73.009
       Monthly Low:  70.6921
       Daily Fibonacci 38.2%:  73.5982
       Daily Fibonacci 61.8%:  73.5298
       Daily Pivot Point S1:  73.5057
       Daily Pivot Point S2:  73.3173
       Daily Pivot Point S3:  73.2157
       Daily Pivot Point R1:  73.7957
       Daily Pivot Point R2:  73.8973
       Daily Pivot Point R3:  74.0857