The USD/INR pair struggles to capitalize on its gains registered over the past two days and oscillates in a narrow trading band through the Asian sess
ion on Wednesday. Spot prices currently trade just below the monthly peak, around the 83.30-83.35 region touched last week, which should now act as a key pivotal point for short-term traders.
From a technical perspective, spot prices are holding comfortably above technically significant 100-day and 200-day Simple Moving Averages . Furthermore, oscillators on the dailyhave just started moving in the positive territory and favour bullish traders. That said, it will still be prudent to wait for some follow-through buying before positioning for further gains.
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