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USD/INR Price Analysis: Greenback starting 2020 near 71.40 against Indian rupee

  • USD/INR created a bear flag in the second part of December 2019.
  • The level to beat for sellers is the 71.20 support.
 

USD/INR weekly chart

 
In 2019, USD/INR has been consolidating the 2018 bull run while trading above the 100/200-period weekly simple moving averages. 
 

USD/INR daily chart

 
In the second part of December, the market formed a bear flag below the 71.60 resistance. A bearish break below the 71.20 support level can open the doors for a drop towards the 70.40 key support level. Then, if the sellers overcome 70.40, the market has room to fall to the 69.40 and 68.40 levels. Resistances can be seen near 71.60, 72.00 and 72.40 levels.
 

Additional key levels

USD/INR

Overview
Today last price 71.346
Today Daily Change 0.1605
Today Daily Change % 0.23
Today daily open 71.1855
 
Trends
Daily SMA20 71.0801
Daily SMA50 71.2696
Daily SMA100 71.3017
Daily SMA200 70.3896
 
Levels
Previous Daily High 71.455
Previous Daily Low 71.165
Previous Weekly High 71.5725
Previous Weekly Low 71.04
Previous Monthly High 71.98
Previous Monthly Low 70.328
Daily Fibonacci 38.2% 71.2758
Daily Fibonacci 61.8% 71.3442
Daily Pivot Point S1 71.082
Daily Pivot Point S2 70.9785
Daily Pivot Point S3 70.792
Daily Pivot Point R1 71.372
Daily Pivot Point R2 71.5585
Daily Pivot Point R3 71.662

 

 

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