USD/INR Price News: Symmetrical triangle on daily chart

USD/INR has carved out a symmetrical triangle pattern.
A breakout would expose key resistance above 76.00.

Omkar Godbole FXStreet Contributor

USD/INR has charted higher lows and lower highs pattern over the last four weeks. In other words, the currency pair has formed a symmetrical triangle on the daily chart.

A breakout would imply a bullish reversal and open the doors for a test of resistance at 76.33 (June 16 high). Alternatively, a triangle breakdown would expose the low of 73.83 reached exactly a month ago.

At press time, USD/INR is trading at 74.76. The triangle resistance is located at 75.13 and support is seen at 74.76.

Daily chart

Trend: Neutral

Technical levels

USD/INR

Overview
Today last price	74.76
Today Daily Change	-0.0097
Today Daily Change %	-0.01
Today daily open	74.8922

Trends
Daily SMA20	74.9512
Daily SMA50	75.3094
Daily SMA100	75.5873
Daily SMA200	73.6384

Levels
Previous Daily High	75.0342
Previous Daily Low	74.7847
Previous Weekly High	74.9974
Previous Weekly Low	74.63
Previous Monthly High	75.6224
Previous Monthly Low	74.5052
Daily Fibonacci 38.2%	74.88
Daily Fibonacci 61.8%	74.9389
Daily Pivot Point S1	74.7732
Daily Pivot Point S2	74.6542
Daily Pivot Point S3	74.5238
Daily Pivot Point R1	75.0227
Daily Pivot Point R2	75.1532
Daily Pivot Point R3	75.2722

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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