USD/INR holds below 71.00, but still positive for the day
The USD/INR rebounded today after hitting five-week lows at 70.71. The recovery found resistance under 71.00 and as of writing trades around 70.85, far from the top, but still about to post the first daily gain in five days.
USD/INR Price Analysis: Key support may hold on India stagflation threat
USD/INR may bounce up from key support as markets may offer Indian Rupee on Stagflation fears.
The currency pair is trapped in a narrowing price range since September. Currently, the lower edge of the triangle is located at 70.55.
|Today last price||70.7275|
|Today Daily Change||-0.1700|
|Today Daily Change %||-0.24|
|Today daily open||70.8975|
|Previous Daily High||71.05|
|Previous Daily Low||70.5875|
|Previous Weekly High||72.57|
|Previous Weekly Low||70.8485|
|Previous Monthly High||71.98|
|Previous Monthly Low||70.328|
|Daily Fibonacci 38.2%||70.8733|
|Daily Fibonacci 61.8%||70.7642|
|Daily Pivot Point S1||70.64|
|Daily Pivot Point S2||70.3825|
|Daily Pivot Point S3||70.1775|
|Daily Pivot Point R1||71.1025|
|Daily Pivot Point R2||71.3075|
|Daily Pivot Point R3||71.565|
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