USD/INR fails to cross a six-week top ahead of October month Indian trade numbers. 50-day SMA can please sellers during further declines. An upside break will have multiple challenges for buyers. Following its failure to remain strong beyond the six-week top, USD/INR trades around 71.70 by the early European session on Friday. Sellers await entry below October month high, near 71.55, to take aim at 50-day Simple Moving Average (SMA) level of 71.00 and the monthly bottom close to 70.30. Given the bears’ dominance below 70.30, the 70.00 round-figure will hold the gate to pair’s slump towards late-July highs near 69.10/05. On the contrary, September month high around 72.65, followed by 73.00 mark, could keep buyers in check amid overbought conditions of 14-day Relative Strength Index (RSI). On the economic front, October month Trade Balance, prior $-10.86B, from India will be the key to watch. USD/INR daily chart Trend: Pullback expected 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 Japanese economy expands at glacial pace – UOB FX Street 3 years USD/INR fails to cross a six-week top ahead of October month Indian trade numbers. 50-day SMA can please sellers during further declines. An upside break will have multiple challenges for buyers. Following its failure to remain strong beyond the six-week top, USD/INR trades around 71.70 by the early European session on Friday. Sellers await entry below October month high, near 71.55, to take aim at 50-day Simple Moving Average (SMA) level of 71.00 and the monthly bottom close to 70.30. Given the bears' dominance below 70.30, the 70.00 round-figure will hold the gate to pair's slump towards late-July highs near… 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.
