Bulls in the USD/INR are aiming for a deeper test of the weekly supply zone.
The initial obstacle is hourly resistance, with bulls stepping in at daily support.
In a top-down study, the USD/INR offers a case for both bulls and bears, but the conclusion is bullish for the time being, if not the medium term.
The bulls are pressing against a strong resistance region in the 74.87s on the weekly chart, and a negative correction is predicted in the near future.
The price has already reached the daily support structure and the confluence of the 61.8 percent Fibonacci resistance on the daily chart, though.
As a result, for the time being, a positive bias remains in place, with the possibility of an upside extension in accordance with the broader bullish trend.
On an hourly basis, there is an immediate resistance structure in the 74.5680s to overcome, but once that is done, the bulls will be looking for higher highs to further penetrate the weekly supply zone:/n
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