Indian Rupee Price News and Forecast: USD/INR steps back from one-week high amid optimism surrounding China PMI

FXStreet Team FXStreet

USD/INR technical analysis: Rupee looks south as India's GDP hits 6-year low

UThe path of least resistance of the Indian Rupee is to the downside.

The Indian unit rose well above 71.60 on Friday, confirming a falling channel breakout on the USD/INR's 4-hour chart. The pattern indicates the pullback from the Nov. 14 high of 72.24 has ended and the rally from the Nov. 4 low of 70.549 has resumed. Read more ...

USD/INR steps back from one-week high amid optimism surrounding China PMI

With the Asian markets cheering China data, USD/INR pays little heed to the previously published India GDP while taking rounds to 71.70 as Indian markets open for Monday’s trading session.

China’s November month factory activity numbers defy recent doubts over the strength of the world’s second-largest economy. As a result, markets in Asia turn risk-on while also ignoring clues of a delay in the trade talks between the United States (US) and China. Read more ...

USD/INR

Overview
Today last price	71.7
Today Daily Change	-0.0490
Today Daily Change %	-0.07
Today daily open	71.749

Trends
Daily SMA20	71.5506
Daily SMA50	71.2089
Daily SMA100	70.9629
Daily SMA200	70.2324

Levels
Previous Daily High	71.8815
Previous Daily Low	71.46
Previous Weekly High	71.8815
Previous Weekly Low	71.2255
Previous Monthly High	72.37
Previous Monthly Low	70.4975
Daily Fibonacci 38.2%	71.7205
Daily Fibonacci 61.8%	71.621
Daily Pivot Point S1	71.5122
Daily Pivot Point S2	71.2753
Daily Pivot Point S3	71.0907
Daily Pivot Point R1	71.9337
Daily Pivot Point R2	72.1183
Daily Pivot Point R3	72.3552

Author

FXStreet Team

FXStreet

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