Indian Rupee Price News and Forecast: INR drops versus the US dollar after rising during four consecutive days

Yohay Elam FXStreet

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.

USD/INR

Overview
Today last price	70.7275
Today Daily Change	-0.1700
Today Daily Change %	-0.24
Today daily open	70.8975

Trends
Daily SMA20	71.2735
Daily SMA50	71.3588
Daily SMA100	71.2797
Daily SMA200	70.4892

Levels
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

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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