USD/INR New York Price Forecast: Greenback holds above 75.00 figure vs. Indian rupee

USD/INR is starting May with a modest uptick on USD dynamics.
The level to beat for bulls is the 76.00 figure.

Flavio Tosti Independent Analyst

USD/INR daily chart

USD/INR bull trend remains intact as the spot is trading above the main SMAs while the market is consolidating near the 75.00 mark. Buyers remain in control and a break above the 76.00 figure can open the gates to more gains towards the 76.50 and 77.00 levels in the medium-term. On the flip side, support can be expected near the 75.00 and 74.50 price levels.

Additional key levels

USD/INR

Overview
Today last price	75.885
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	75.885

Trends
Daily SMA20	76.1303
Daily SMA50	75.0277
Daily SMA100	73.1623
Daily SMA200	72.1755

Levels
Previous Daily High	75.885
Previous Daily Low	75.415
Previous Weekly High	76.34
Previous Weekly Low	75.14
Previous Monthly High	76.975
Previous Monthly Low	75.14
Daily Fibonacci 38.2%	75.7055
Daily Fibonacci 61.8%	75.5945
Daily Pivot Point S1	75.5717
Daily Pivot Point S2	75.2583
Daily Pivot Point S3	75.1017
Daily Pivot Point R1	76.0417
Daily Pivot Point R2	76.1983
Daily Pivot Point R3	76.5117

Author

Flavio Tosti

Independent Analyst

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, tests $5,400

Gold benefits from intense risk-aversion on Monday and climbs to the $5,400 region, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

The week ahead: Conflict in the Middle East jolts markets

Events in the Middle East are obviously dominating financial markets this morning. The Brent crude oil price is extending gains and is higher by more than 8%, stock futures are pointing lower and the gold price is higher by more than 2%.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.