- USD/INR bulls sit tight at the 38.2% ratio and wait to target the 74 figure.
- On the flipside, a break of support opens risk of a test 73 the figure.
USD/INR is well and truly suck in a range, trading between the 10 and 21 EMAs near the 38.2% Fibonacci retracement level following touch of the 50% mean reversion.
The following illustrates the lack of progress made since the prior analysis, above, in the bull’s quest for a restest of the daily resistance and old daily support near 74 the figure.
The 74 figure meets the prior daily support ahead of the 74.50s.
On the fliupside, 73.16 will be eyed ahead of dynamic trendline support on a break of 73 the figure.