USD/INR New York Price Forecast: Greenback limited by 71.60 resistance vs. yen

USD/INR stays trapped in a tight range as the new week starts.
The level to beat for sellers is the 71.20 support.

Flavio Tosti Independent Analyst

USD/INR weekly chart

After the 2018 bull-market, USD/INR has been consolidating in a rectangle formation. The quote is trading above its main weekly simple moving averages (SMAs), suggesting a bullish momentum in the long term.

USD/INR daily chart

The spot broke below a bear flag pattern and challenged the 71.20 support level to retest the 71.60 resistance. However, USD/INR has entered a tight sideways market while remaining vulnerable below the 71.60/72.00 resistance zone. However, a daily close above the 72.00 figure would likely invalidate the bearish scenario and generates further upside towards the 72.40 level.

Additional key levels

USD/INR

Overview
Today last price	71.368
Today Daily Change	-0.2300
Today Daily Change %	-0.32
Today daily open	71.598

Trends
Daily SMA20	71.3172
Daily SMA50	71.2045
Daily SMA100	71.2373
Daily SMA200	70.6825

Levels
Previous Daily High	71.6475
Previous Daily Low	71.2784
Previous Weekly High	71.6475
Previous Weekly Low	71.125
Previous Monthly High	72.57
Previous Monthly Low	70.5875
Daily Fibonacci 38.2%	71.5065
Daily Fibonacci 61.8%	71.4194
Daily Pivot Point S1	71.3685
Daily Pivot Point S2	71.1389
Daily Pivot Point S3	70.9994
Daily Pivot Point R1	71.7376
Daily Pivot Point R2	71.8771
Daily Pivot Point R3	72.1067

Author

Flavio Tosti

Independent Analyst

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