USD/INR Price Analysis: 74 the figure eyed for the sesisons ahead

USD/INR bulls hunting down the 74.00 area.
USD/INR is on the verge of a bullish breakout.

Ross J Burland FXStreet

USD/INR is headed towards the 74.00 level after breaking the prior resistance following a build-up for bids since the prior correction of the prior daily bullish impulse.

USD/INR daily chart

In reaching the target, a pullback could be expected to potentially test the 50% mean reversion and prior support. With that being said, a 38.2% Fibo retracement meets the prior daily highs that would be expected to act as a support in the first instance near 73.80.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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