USD/INR Price Analysis: Indian rupee finally reached the 74 area

• USD/INR bulls take charge and run into a wall of resistance.
• The 74 area has been achieved following a long period of consolidation. 

Following a number of consecutive day's of analysis, the Indian rupee has finally broken into the 74 areas. For a moment there, it was looking as though the bears were on the verge of a downside weekly extension. However, that wasn't to be as the US dollar moves to fresh 10-month highs as the Federal reserve sentiment for rate increases gets priced by the markets. 

USD/INR daily chart

As illustrated, the pair has shot higher as EM-FX gets battered by the risks of higher inflation in the US and the Fed's response. 

However, it may take some follow through on that narrative to push this through what is expected to be firm resistance at this juncture.