Technical analysis: USD/INR’s positive stance remains unchanged
Indian Rupee trades flat on the day. However, the USD/INR pair shows a significant upward movement on the daily chart, with the price holding above the key 100-day Exponential Moving Average (EMA) and the two-month-old uptrend line. The bullish momentum is supported by the 14-day Relative Strength Index (RSI), which stands near 65.50, suggesting a continuation of the uptrend.
A decisive bullish breakout above the 84.00 psychological barrier could pave the way to the all-time high of 84.24. If the upswing continues, it may take the pair to 84.50.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.