USD/INR stays below 23.6% Fibonacci retracement amid near overbought RSI levels. A weekly break below 71.45 could recall May month top. Repeated failures to cross 23.6% Fibonacci retracement of the year 2018 upside portray the USD/INR pair’s weakness as it trades near 71.7250 ahead of the European session on Wednesday. In order to revisit May month high surrounding 71.00, a weekly closing below previous candle low of 71.45 becomes necessary while 38.2% Fibonacci retracement level of 70.50 and June month high close to 70.12, followed by 70.00 round-figure, could please bears afterward. It should, however, be noted, that the pair’s declines below 70.00 will find it hard to sustain as 50% Fibonacci retracement level of 69.10 and 21-month-old rising trend-line near 68.80 will question pair’s further south-run. Alternatively, pair’s weekly close above 23.6% Fibonacci retracement level of 72.20 could challenge December 2018 high of 72.82 while 73.15/20 area, including mid-October 2018 lows, holds the key to pair’s rally towards 75.00 mark. USD/INR weekly 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 China releases tariffs exemption list for products from the US – Xinhua FX Street 4 years USD/INR stays below 23.6% Fibonacci retracement amid near overbought RSI levels. A weekly break below 71.45 could recall May month top. Repeated failures to cross 23.6% Fibonacci retracement of the year 2018 upside portray the USD/INR pair's weakness as it trades near 71.7250 ahead of the European session on Wednesday. In order to revisit May month high surrounding 71.00, a weekly closing below previous candle low of 71.45 becomes necessary while 38.2% Fibonacci retracement level of 70.50 and June month high close to 70.12, followed by 70.00 round-figure, could please bears afterward. It should, however, be noted, that the pair's… 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.
