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- USD/INR Price Analysis: Bulls advance and eye fresh daily highs
USD/INR Price Analysis: Bulls advance and eye fresh daily highs
- USD/INR bulls move in for the kill and eye a fresh daily high.
- USD/INR stalled at firm support and bulls stay in control.
As per the prior analysis, ''USD/INR Price News: Rupee firms at critical daily resistance, eyes 75 the figure,'' the price has continued to deteriorate as forecasted as follows, but has now moved higher in what would be expected to lead to a fresh daily higher high:
USD/INR prior daily analysis
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The price of USD/INR met the daily support zone and was in the process of consolidation. It was stated that if the price fails to move higher from here, there would be an argument for a long term consolidation with 74.50 eyed as a downside target.
USD/INR daily chart
-637702049094717729.png)
However, the price has indeed moved higher and this is a bullish development from critical support that will be monitored for prospects of a higher daily high for the forthcoming days, if not next week.
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