USD/INR Price Analysis: 74 the figure remains in focus

• USD/INR is on the verge of a test of the 74 figure. 
• Bears are stepping in and there are prospects for a bearish correction. 

USD/INR has been drifting higher towards the 74 level this week. However, the bears are present and there are chances of a restest of the hourly 21-EMA.

USD/INR daily chart

The price is stalling a fraction below the 74 area, but the day is young. having said that, should the candle remain bearish by the close, then the focus will be on the wick and a fill of the same in the sessions to follow. 

USD/INR bearish prospect 

The current candle is bearish and represents activity on the lower time frames. 

USD/INR hourly chart

On the lower time frames, such as the hourly, the price is decelerating and a correction to test the 21-hour moving average could be on the cards for the day ahead.