USD / INR TECHNICAL ANALYSIS

Hourly Chart

Current level is 73.50

First Support at 73.32 which is Bollinger band

Second Support at 73.00 which is big figure

First Resistance near 73.60 (18 hour moving average & Bollinger Band)

Second Resistance 73.75 (50 hour Moving Average)

RSI – 29.70 (oversold) and tuning around (Buying signal)

MACD – Blue line cutting from Below – another buying signal

Daily Chart

Current level is 73.50

First Resistance near 73.77 (7 day moving average)

Second Resistance in range of 73.90 to 74.00

(73.93 -200 EMA, 73.96 – 18 EMA, 73.98 – 50 EMA)

RSI – 39.35 (oversold) and tuning around (Buying signal)

MACD – Wide and downward sloping, still Dollar Bearish

Summary

Immediate range 73.30 to 73.70

Expect buying to emerge near 73.30 – 73.40 range

Bigger Range 73.00 to 74.00