USD/INR Technical Analysis: Focus on today's close

• Wednesday's Doji candle has invalidated the immediate bullish setup. 
• Doji's low of 70.91 is the level to defend for the bulls. 

USD/INR created a Doji candle on Wednesday, signaling indecision in the market place. 

The Doji has invalidated the immediate bullish view put forward by the hammer candle created on Dec. 13 and made Thursday's close pivotal. 

The recent lows near 70.44 could come into play if the pair ends Thursday below 70.91 (Wednesday's low), confirming a bearish Doji reversal. 

A close above Wednesday's high of 71.16 would imply a continuation of the rally from 70.44. 

Daily chart

Trend: Neutral

Technical levels