14 Nov 2018
USD/INR Technical Analysis: Eyes support of 7-month-long rising trendline
- The USD/INR is currently trading at 71.97, having clocked a 7.5-week low of 71.79 earlier today.
- The daily chart is flashing bearish lower highs and lower lows pattern in the last four weeks.
- The 5- and 10-day EMAs are trending south, indicating a bearish setup. Also, the 5-day and 50-day EMAs have produced a bearish crossover.
- The 14-day relative strength index (RSI) of 40.00 is biased toward the bears.
- Hence, the pair could test the support of the trendline connecting the April 10 and Aug. 9 lows, currently at 71.34, in the next few days.
- A daily close above the 10-day EMA would abort the bearish view and may yield consolidation.
Daily Chart
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Trend: Bearish
USD/INR
Overview:
Last Price: 72.14
Daily change: -1.7e+3 pips
Daily change: -0.235%
Daily Open: 72.31
Trends:
Daily SMA20: 73.1548
Daily SMA50: 72.9877
Daily SMA100: 71.1122
Daily SMA200: 68.6145
Levels:
Daily High: 72.88
Daily Low: 72.31
Weekly High: 73.154
Weekly Low: 72.34
Monthly High: 74.504
Monthly Low: 72.525
Daily Fibonacci 38.2%: 72.5277
Daily Fibonacci 61.8%: 72.6623
Daily Pivot Point S1: 72.12
Daily Pivot Point S2: 71.93
Daily Pivot Point S3: 71.55
Daily Pivot Point R1: 72.69
Daily Pivot Point R2: 73.07
Daily Pivot Point R3: 73.26