The Indian Rupee trades on a stronger note on the day. The positive outlook of USD/INR remains intact above the key 100-day Exponential Moving Average (EMA) on the daily timeframe. Furthermore, the 14-day Relative Strength Index (RSI) holds in bullish territory around 55.00, supporting the buyers for the time being.
A high of April 15 at 83.50 acts as an immediate resistance level for the pair. Extended bullish movement may provide an opportunity for USD/INR to reach an all-time high of 83.72. A clear break above this level will expose the 84.00 psychological level. On the flip side, the first downside target to watch is a low of April 11 at 83.30. Consistent trading below the mentioned level could lead to the 100-day EMA at 83.12
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