Technical Analysis: USD/INR’s bullish bias persists in the longer term
Indian Rupee trades weaker on the day. According to the daily chart, the positive stance of the USD/INR pair prevails as the pair remains well above the key 100-day Exponential Moving Average (EMA) and the two-month-old uptrend line. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which holds above the midline near 60.50, indicating bullish momentum still dominates.
The key upside barrier for USD/INR appears near the 84.00 psychological mark. A sustained move above this level would signal further upside towards the next hurdle at the all-time high of 84.24
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