USD/INR Price News: Indian rupee drifting to 74 the figure
|- USD/INR bulls continue to target the 74 figure.
- Bears on the weekly time frame are lurking.
USD/INR continues to drift higher towards 74 the figure. However, there is a lack of conviction and the weekly charts spell a different outlook for the Indian rupee.
USD/INR daily chart
The daily chart is bullish while the price attempts to move in on the 74 figure. However, it is making hard work of the upside, despite the support from the 73.70s.
USD/INR weekly chart
With that being said, the price is being restricted due to the 61.8% Fibonacci retracement on the weekly time frame and there are prospects of a downside impulse back to test the weekly lows near 72.32.
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