USD/INR hits fresh three-month lows near 70.50, tariffs eyed

  • USD/INR trades at the lowest levels since September 30th.
  • Weaker USD on dovish FOMC weighs on the spot.
  • Focus on USD dynamics ahead of the US tariffs decision.

USD/INR extended its four-day losing streak and hit fresh three-month lows of 70.54 over the last hour, mainly in response to broad-based US dollar weakness and foreign fund inflows.

The Indian rupee kept its recent upbeat momentum intact vs. its American peer, as higher domestic equities and persistent foreign fund inflows strengthened investors’ sentiment in the local currency.

Meanwhile, the US dollar remains heavy across its main peers after the US Federal Reserve (Fed) left the rates on-hold on Wednesday while signaled an intention to keep interest rates unchanged in 2020 unless there is a material change to the economic outlook.

It's more of the dollar weakness that is hurting the USD/INR pair while increased nervousness ahead of the key meeting between US President Trump and his trade adviser to discuss the Dec. 15 tariffs also weighs negatively on the price.

Ahead of the tariff’s decision, the pair will continue to get influenced by the USD price-action. Also, the Indian Industrial and Manufacturing Production data, due at 1200 GMT, will also offer some fresh impetus.

USD/INR Technical levels to consider


Today last price 70.581
Today Daily Change -0.0899
Today Daily Change % -0.13
Today daily open 70.7069
Daily SMA20 71.5153
Daily SMA50 71.2613
Daily SMA100 71.1568
Daily SMA200 70.2505
Previous Daily High 71.025
Previous Daily Low 70.328
Previous Weekly High 71.98
Previous Weekly Low 71.1775
Previous Monthly High 72.37
Previous Monthly Low 70.4975
Daily Fibonacci 38.2% 70.5943
Daily Fibonacci 61.8% 70.7587
Daily Pivot Point S1 70.3483
Daily Pivot Point S2 69.9896
Daily Pivot Point S3 69.6513
Daily Pivot Point R1 71.0453
Daily Pivot Point R2 71.3836
Daily Pivot Point R3 71.7423



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