USD/INR Technical Analysis: Range breakdown confirmed, cautiously bearish

USD/INR fell 0.51 percent yesterday, confirming a downside break of the contracting triangle on the daily chart. 

The 14-day relative strength index (RSI) is reporting bearish conditions below 50. The pair, therefore, risks falling to 70.405 (Feb. 13 low). 

The breakdown, however, could be short-lived if Ind-Pak tensions rise. 

Daily chart

Trend: Bearish