USD/INR New York Price Forecast: Dollar approaching the 2020 highs near 73.00 figure vs. rupee

USD/INR is pressuring the 72.40 resistance.
USD/INR bulls are looking at the 2020 highs and the 73.00 figure.

Flavio Tosti Independent Analyst

USD/INR weekly chart

After the 2018 bull-run, USD/INR has been consolidating in a rectangle pattern. The spot is trading above the main weekly simple moving averages (SMAs), suggesting a bullish bias in the long term.

USD/INR daily chart

The spot is challenging the 72.40 resistance while trading above the main SMAs on the four-hour chart. As bulls are pressuring the resistance a break above it can lead to further gains towards the 72.65 and 73.00 levels. Support is seen near the 72.00 and 71.60 levels.

Additional key levels

USD/INR

Overview
Today last price	72.3045
Today Daily Change	0.6345
Today Daily Change %	0.89
Today daily open	71.67

Trends
Daily SMA20	71.5208
Daily SMA50	71.3599
Daily SMA100	71.3008
Daily SMA200	70.7581

Levels
Previous Daily High	71.9675
Previous Daily Low	71.465
Previous Weekly High	72.12
Previous Weekly Low	71.2605
Previous Monthly High	72.57
Previous Monthly Low	70.5875
Daily Fibonacci 38.2%	71.657
Daily Fibonacci 61.8%	71.7755
Daily Pivot Point S1	71.4342
Daily Pivot Point S2	71.1983
Daily Pivot Point S3	70.9317
Daily Pivot Point R1	71.9367
Daily Pivot Point R2	72.2033
Daily Pivot Point R3	72.4392

Author

Flavio Tosti

Independent Analyst

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