USD/INR Technical Analysis: Eyes resistance at 73.00 on bull continuation pattern, Fed rate outlook supports
|- The USD/INR is currently trading at 72.78, up 0.20 percent on the day, having witnessed a falling wedge breakout (bullish continuation pattern) on Nov. 8.
- The pair has also established a bullish higher low and higher high after wedge breakout.
- The Fed reaffirmed its hawkish stance last week, setting the stage for a 25 basis point rate hike in December. The central bank has signaled three rate hikes in 2019.
- The pair could soon rise to 73.00. A break above that level would expose the Oct. 31 high of $74.04.
Hourly Chart
Trend: Bullish
USD/INR
Overview:
Last Price: 72.835
Daily change: 3.3e+3 pips
Daily change: 0.462%
Daily Open: 72.5
Trends:
Daily SMA20: 73.2448
Daily SMA50: 72.9378
Daily SMA100: 71.0254
Daily SMA200: 68.5292
Levels:
Daily High: 72.847
Daily Low: 72.394
Weekly High: 73.154
Weekly Low: 72.34
Monthly High: 74.504
Monthly Low: 72.525
Daily Fibonacci 38.2%: 72.674
Daily Fibonacci 61.8%: 72.567
Daily Pivot Point S1: 72.3137
Daily Pivot Point S2: 72.1273
Daily Pivot Point S3: 71.8607
Daily Pivot Point R1: 72.7667
Daily Pivot Point R2: 73.0333
Daily Pivot Point R3: 73.2197
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