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. 
 

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

 

 

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