USD/INR Technical Analysis: Minor pullback could be in the offing

• The bearish divergence of the hourly chart relative strength index (RSI) and the large bearish divergence of the 4-hour chart RSI indicates the pair could pull back to its ascending 50-hour moving average (MA) support, currently located at 72.11.
• The dip could be short-lived as the primary trend remains bullish, as indicated by the ascending 5-day and 10-day moving averages (MAs).

Hourly chart

Spot Rate: 72.66

Recent High: 72.68

Previous day's Low: 72.08

Trend: Overbought, pullback likely

Resistance

R1: 72.68 (previous day's high)

R2: 73.00 (psychological level)

Support

S1: 72.19 (5-day moving average)

S2: 72.00 (psychological level)

S3: 71.59 (10-day moving average)