USD/INR Price Analysis: Pair holds grounds above 82.50 psychological level

USD/INR trades higher due to the positive tone around the US Dollar (USD).
23.6% Fibo acts as the barrier following nine-day EMA at 82.84.
Indicators suggest the bearish sentiment of USD/INR traders.

Akhtar Faruqui FXStreet

USD/INR trades sideways around 82.50 psychological level at the time of writing during the Asian session on Friday, recovering recent losses. The pair is cheering up the positive sentiment around the US Dollar (USD) due to the upbeat US employment data released on Thursday.

The 23.6% Finonacci retracement at 82.62 acts as immediate resistance, followed by the 38.2% Finonacci retracement at 82.79. A break above the latter could support the USD/INR pair to explore the nine-day Exponential Moving Average (EMA) at 82.84.

On the downside, the pair could meet support around the weekly low at 82.37 level, followed by the 82.00 psychological level.

The 14-day Relative Strength Index (RSI) remains below 50, which suggests a bearish bias of the USD/INR traders. The Moving Average Convergence Divergence (MACD) line stays above the centerline but lies below the signal line, which suggests that recent momentum is weaker.

USD/INR: Daily Chart

USD/INR: additional important levels

Overview
Today last price	82.5886
Today Daily Change	0.0070
Today Daily Change %	0.01
Today daily open	82.5816

Trends
Daily SMA20	82.8556
Daily SMA50	82.4123
Daily SMA100	82.3084
Daily SMA200	82.257

Levels
Previous Daily High	82.8
Previous Daily Low	82.3485
Previous Weekly High	83.5505
Previous Weekly Low	82.8946
Previous Monthly High	82.8334
Previous Monthly Low	81.6588
Daily Fibonacci 38.2%	82.6275
Daily Fibonacci 61.8%	82.521
Daily Pivot Point S1	82.3534
Daily Pivot Point S2	82.1252
Daily Pivot Point S3	81.9019
Daily Pivot Point R1	82.8049
Daily Pivot Point R2	83.0282
Daily Pivot Point R3	83.2564

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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