• USD/INR remains pressured around one-week low after breaking short-term key supports.
• Receding bullish bias of MACD also favors sellers to aim for tops marked in April, October.

USD/INR holds lower grounds near 75.75 during early Tuesday, after breaking the 10-DMA and an ascending support line from late November the previous day.

As the MACD line also teases sellers, backed by the aforementioned support break, USD/INR prices are likely to witness further downside.

However, the 75.65-63 region comprising highs marked in April and October becomes a tough nut to crack for the pair bears.

Should USD/INR bears conquer the 75.65 support, July’s peak of 75.01 will be in focus.

On the flip side, recovery moves remain elusive below the support-turned-resistance line near 76.00. Adding to the immediate upside filters is the 10-DMA level of 75.87.

During the USD/INR recovery beyond 76.00, the 76.30 level may offer an intermediate halt during the run-up to the latest peak of 76.59 and then to the 77.00 psychological magnet.

USD/INR: Daily chart

Trend: Further weakness expected