USD/INR Price News: The Indian ruppee is stuck in a daily range
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- 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 stuck 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.
Daily chart
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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.
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