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USD/INR Price News: Indian rupee bulls break four-month-old support line with eyes on sub-73.00 area

USD/INR stands on the slippery floor whilst clean the multi-day low close to 73.24, down 0.27% intraday, at some stage in the preliminary hours of the Indian buying and selling session on Wednesday.

In doing so, the Indian rupee pair extends one-week-old south-run beneath the key guide line stretched from September 01. Also favoring the USD/INR marketers is the bearish MACD signals.

That said, the mid-October lows close to 73.20 can provide instantaneous aid to the quote in advance of dragging it to October’s backside surrounding 72.95. During the fall, the seventy three round-figure might also provide an intermediate halt.

In a case the place the USD/INR retailers stay dominant past-72.95, the each year low marked in September, close to 72.76, will regain the market attention.

On the contrary, the quote’s corrective pullback past the preceding assist line, now resistance, round 73.33, may also eye some other resistance line stretched from November 04, round 73.90. Though, 50-day SMA shut to 73.95, observed with the aid of the seventy four round-figure, can project the USD/INR bulls afterward.

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