• USD/INR retreats after refreshing three-week excessive, prods two-day successful streak.
• Upbeat oscillators, sustained break of 100-DMA favors Indian Rupee bears.
• 61.8% Fibonacci retracement, six-week-old descending resistance line prohibit quick upside.
• USD/INR patrons stay hopeful above 200-DMA; two-month-old earlier resistance line provides to the draw back filters.

USD/INR stays mildly provided close to 82.20 because it retreats from the very best ranges in three weeks throughout early Monday. In doing so, the Indian Rupee pair fails to justify the day past’s upside break of the 100-DMA because the 61.8% Fibonacci retracement degree of its October-November draw back.

Even so, the bullish MACD indicators and upbeat RSI (14) line, not overbought, maintain the USD/INR pair patrons hopeful of witnessing a every day closing past the aforementioned key Fibonacci retracement degree of 82.25.

However, a downward-sloping resistance line from April 03, near 82.30 can act as an additional filter in direction of the north.

In a case the place the USD/INR bulls handle to maintain the reins previous 82.30, the tops marked throughout April round 82.40 and 82.50 might lure the pair patrons.

Following that, the yearly excessive marked in March round 83.05 will probably be within the highlight.

Alternatively, a every day closing under the 100-DMA degree of round 82.15 isn’t an open invitation to the USD/INR bears because the resistance-turned-support line from mid-March, across the 82.00 spherical determine, might problem the Indian Rupee patrons.

Though, the pair sellers ought to stay cautious until witnessing a every day closing under the 200-DMA assist of round 81.70.

USD/INR: Daily chart

Trend: Further upside anticipated