The Indian Rupee trades stronger on the day. The USD/INR pair maintains the constructive outlook unchanged above the key 100-day Exponential Moving Average (EMA) on the daily chart. Nonetheless, further consolidation looks favorable amid the neutral level of the 14-day Relative Strength Index (RSI).
In the bullish case, the first upside target for the pair will emerge at 83.55 (high of June 18). The next barrier is located at 83.72 (high of April 17) and then the 84.00 psychological level.
On the flip side, the key support level is seen near 83.30, the 100-day EMA. Any follow-through selling below this level will pave the way to 83.00 (round figure), followed by 82.78 (low of January 15).
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