USD/INR Technical Analysis: Consolidating in a narrowing price range below 69.00


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.

4-hour chart

Trend: Bearish below 68.66

USD/INR

Overview
Today last price 68.836
Today Daily Change -0.0765
Today Daily Change % -0.11
Today daily open 68.9125
 
Trends
Daily SMA20 69.8108
Daily SMA50 70.6194
Daily SMA100 70.7791
Daily SMA200 70.8089
 
Levels
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

 

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