• USD/INR prints bullish chart pattern on four-hour play around monthly top.
  • Bullish MACD, firmer RSI hints at further advances, 200-SMA adds to the upside filters.

USD/INR remains indecisive around 74.65 during early Tuesday, after refreshing the monthly peak the previous day.

Even so, the Indian rupee (INR) pair keeps the bullish chart pattern, namely head and shoulders (H&S), alive on the four-hour play.

In addition to the bullish formation, upbeat MACD signals and RSI line also hints at the quote’s further advances.

However, a clear upside break of the neckline, around 74.65, becomes necessary to confirm the theoretical upward transition towards 75.50, comprising 61.8% Fibonacci retracement (Fibo.) of December-January fall.

During the run-up, the 200-SMA level near 74.85 and the 75.00 threshold may offer intermediate halts.

Meanwhile, pullback moves may aim for 74.30 and the 74.00 round figure before the 74.00 could lure USD/INR bears.

Following that, the monthly low and mid-September 2021 bottom, respectively around 73.75 and 73.30, will be in focus.

During the run-up,

USD/INR: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 74.63
Today Daily Change -0.0020
Today Daily Change % -0.00%
Today daily open 74.632
 
Trends
Daily SMA20 74.3351
Daily SMA50 74.8488
Daily SMA100 74.6213
Daily SMA200 74.2715
 
Levels
Previous Daily High 74.7502
Previous Daily Low 74.3313
Previous Weekly High 74.7155
Previous Weekly Low 74.1337
Previous Monthly High 76.5958
Previous Monthly Low 74.1065
Daily Fibonacci 38.2% 74.5902
Daily Fibonacci 61.8% 74.4913
Daily Pivot Point S1 74.3921
Daily Pivot Point S2 74.1522
Daily Pivot Point S3 73.9731
Daily Pivot Point R1 74.811
Daily Pivot Point R2 74.9901
Daily Pivot Point R3 75.23

 

 

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