USD/INR Price News: Bulls take the price into fresh corrective highs

• USD/INR Bulls have eyes on 75.20 on US dollar strength. 
• US yields are keeping the US dollar underpinned.

USD/INR is currently trading at 74.7150 and higher by some 0.20% at the time of writing after rising from a low of 74.56 to a high of 74.72. US yields have marked a fresh cycle high in the 10-year Treasury yield which has lifted the greenback, if only marginally.  DXY is testing the psychological 95.80 level:

DXY daily chart

The US dollar could be forming an inverse head and shoulders at this juncture. This will be a bullish scenario around the Federal Reserve next week and should keep USD/INR elevated.

The current resistance has been pierced and would be expected to act as a support if the price breaks and closes above it. In doing so, then the next layer of resistance is near 75.20 for the bulls to target.