USD/INR Technical Analysis: Path of least resistance is to the higher side
|The USD/INR pair closed well above the Jan. 21 high of 71.52 yesterday, reviving the bullish view put forward by the falling wedge breakout on Jan. 18.
Daily chart
The bull breakout seen in the above chart is backed by the ascending 5- and 10-day moving averages (MAs) and the 14-day relative strength index (RSI), which is currently printing bullish conditions above 60.
USD/INR, therefore, could beat the 100-day moving average (MA), currently at 71.79, in a day or two and rise well above 72.00.
The bullish setup would be neutralized below the former resistance-turned-support of 71.52, although that looks less likely.
Trend: bullish
USD/INR
Overview:
Today Last Price: 71.695
Today Daily change: 0.0100 pips
Today Daily change %: 0.01%
Today Daily Open: 71.685
Trends:
Daily SMA20: 70.9848
Daily SMA50: 70.7255
Daily SMA100: 71.7909
Daily SMA200: 70.3029
Levels:
Previous Daily High: 71.91
Previous Daily Low: 71.4355
Previous Weekly High: 71.64
Previous Weekly Low: 70.82
Previous Monthly High: 71.64
Previous Monthly Low: 69.185
Daily Fibonacci 38.2%: 71.7287
Daily Fibonacci 61.8%: 71.6168
Daily Pivot Point S1: 71.4437
Daily Pivot Point S2: 71.2023
Daily Pivot Point S3: 70.9692
Daily Pivot Point R1: 71.9182
Daily Pivot Point R2: 72.1513
Daily Pivot Point R3: 72.3927
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