USD/INR trails below an ascending trend-line stretched since August 05. 4H 50MA, 50% Fibonacci retracement becomes near-term key supports. Despite taking the bids near 72.06 ahead of Monday’s European open, USD/INR still lags behind a three-week-old resistance-line. With the repeated failures to cross the ascending trend-line since August 05, the quote is more likely to visit 100-bar moving average on the four-hour chart (4H 100MA) at 71.20. Should prices keep trading southwards below 71.20, 50% Fibonacci retracement level of the upside since early July, at 70.30, followed by 70.00 round-figure gain sellers’ attention. Alternatively, a successful break of the aforementioned trend-line at 72.40 opens the door for the pair’s run-up towards December 2018 high of 72.82 and then to 73.00 round-figure. USD/INR 4-hour 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 Brexit: Entering the business end of negotiations – ANZ FX Street 4 years USD/INR trails below an ascending trend-line stretched since August 05. 4H 50MA, 50% Fibonacci retracement becomes near-term key supports. Despite taking the bids near 72.06 ahead of Monday's European open, USD/INR still lags behind a three-week-old resistance-line. With the repeated failures to cross the ascending trend-line since August 05, the quote is more likely to visit 100-bar moving average on the four-hour chart (4H 100MA) at 71.20. Should prices keep trading southwards below 71.20, 50% Fibonacci retracement level of the upside since early July, at 70.30, followed by 70.00 round-figure gain sellers' attention. Alternatively, a successful break of the aforementioned… 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.
