Repeated retracements from the breakout portray USD/INR weakness. 3-week old support-line acts as immediate rest. 70.00 and 200-DMA seem key resistances. Failure to rise successfully beyond 69.30/32 confluence, drags the USD/INR pair down to 69.34 ahead of the European open on Friday. However, a closing break below the 100-day moving average (DMA) and 23.6% Fibonacci retracement of December 2018 to July 2019 confluence becomes necessary for the quote to drop towards near-term support-line around 68.76. It should also be noted that the price drop under 68.76 might not refrain from flashing July low, at 68.25, back to the chart. On the upside, 69.80 and 38.2% Fibonacci retracement level around 70.00 seem strong resistances to watch ahead of observing 200-DMA level of 70.18. 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 Forex Today: Trump’s China tariffs trigger a sell-off, EU ones coming, and Non-Farm Payrolls eagerly awaited FX Street 4 years Repeated retracements from the breakout portray USD/INR weakness. 3-week old support-line acts as immediate rest. 70.00 and 200-DMA seem key resistances. Failure to rise successfully beyond 69.30/32 confluence, drags the USD/INR pair down to 69.34 ahead of the European open on Friday. However, a closing break below the 100-day moving average (DMA) and 23.6% Fibonacci retracement of December 2018 to July 2019 confluence becomes necessary for the quote to drop towards near-term support-line around 68.76. It should also be noted that the price drop under 68.76 might not refrain from flashing July low, at 68.25, back to the chart. On… 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.
