USD/INR is currently trading at 68.815 – down 0.15 percent on the day – having registered a 0.35 percent on Monday.
As seen in the 4-hour chart, the pair is creating a narrowing price range of symmetrical triangle-like pattern on the 4-hour chart. As of writing, the upper edge of the triangle is seen at 69.16 and the lower edge is located at 68.66.
A break below 68.66 would confirm triangle breakdown and allow a re-test of the recent low of 68.34. The RSI on the 4-hour chart has fallen back into bearish territory below 50.00 and will breach the ascending trendline if the spot suffers range breakdown.
The corrective bounce, however, may gather pace if the upper edge of the flag is breached.
Trend: Bearish below 68.66
|Today last price||68.836|
|Today Daily Change||-0.0765|
|Today Daily Change %||-0.11|
|Today daily open||68.9125|
|Previous Daily High||69.2435|
|Previous Daily Low||68.7905|
|Previous Weekly High||69.3275|
|Previous Weekly Low||68.3415|
|Previous Monthly High||71.915|
|Previous Monthly Low||70.105|
|Daily Fibonacci 38.2%||68.9635|
|Daily Fibonacci 61.8%||69.0705|
|Daily Pivot Point S1||68.7208|
|Daily Pivot Point S2||68.5292|
|Daily Pivot Point S3||68.2678|
|Daily Pivot Point R1||69.1738|
|Daily Pivot Point R2||69.4352|
|Daily Pivot Point R3||69.6268|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.