USD/INR surged from 86.30 to nearly 87.85 in just over a week, driven by U.S. President Donald Trump announcing plans to impose a 25% tariff on select Indian exports.
The latest 4H candles show signs of exhaustion, with price stalling near the highs and forming small-bodied candles with upper wicks—suggesting weakening bullish momentum. A break below 87.45 could trigger a deeper pullback toward 87.20. However, if price reclaims 87.65, bulls may attempt another push toward 87.85 or new highs.
USD/MXN reversed from its late July low near 18.48 and has been climbing steadily, reaching 18.85 after the U.S. agreed to extend its current trade deal with Mexico by 90 days.
The trend potentially remains bullish on the 4H timeframe, with higher lows and clean upward structure. Price recently broke above short-term resistance near 18.80 and is now retesting the zone. A successful hold above this area could open room for a move toward 18.95. Failure to hold 18.75 could lead to a corrective drop back toward 18.70.
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