USD/INR Price News: Indian Rupee bulls making headway on potential flag breakout

• USD/INR bulls breaking the flag resistance on a daily basis. 
• Above 0.7440, the bias remains bullish as US dollar firms.

As illustrated in analysis at the start of the week, USD/INR was contained in a flag pattern as it moved towards the support area as marked an eclipse. However, we are starting to see signs of a breakout and the following is an analysis of the US yields and dollar supporting a bullish bias for the week ahead.

USD/INR daily charts

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On the downside, however, the price would still need to break below 0.7440. 

DXY daily charts

It was explained that the US dollar was meeting a critical support structure which would be expected to hold and potentially lead to a break back towards 94.50.

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It was also explained that a move higher would be more probable should the US yields continue to climb in the current bullish form of late as follows:

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The US 10-year yield continues to climb in a classic impulse, correction, impulse shape and the current dynamic trendline support have been closed in upon, so this lead to the next bullish impulse:

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