The pair trades higher at around 94.50 at the time of writing on Tuesday, maintaining a bullish near-term bias, as it holds above the 20-day Exponential Moving Average (EMA) at 93.53. The positioning above this rising EMA suggests the broader uptrend remains intact, while the Relative Strength Index (RSI) around 61 on the daily chart indicates firm but not overstretched upside momentum.
On the downside, the 20-day EMA at 93.53 stands as the first layer of dynamic support, and a daily close below this level would hint at a deeper corrective phase within the broader trend. Looking up, USD/INR aims to revisit the all-time high around 95.20. The spot would enter uncharted territory if it manages a decisive break above the latter.