USD/INR New York Price Forecast: Greenback looking for directions vs. rupee


  • USD/INR remains trapped in a tight range as the week comes to an end.
  • The level to beat for bears is the 71.20 support. 

 

USD/INR weekly chart

 
Following 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 quote broke below a bear flag formation and challenged the 71.20 support level to then retest the 71.60 resistance. However, USD/INR has entered a tight range while remaining vulnerable below the 71.60/72.00 resistance zone. However, a close above the 72.00 figure on a daily basis would likely invalidate the bearish scenario and yields further upside towards the 72.40 level. 
   

Additional key levels

USD/INR

Overview
Today last price 71.4128
Today Daily Change 0.0828
Today Daily Change % 0.12
Today daily open 71.33
 
Trends
Daily SMA20 71.2892
Daily SMA50 71.1986
Daily SMA100 71.2279
Daily SMA200 70.6742
 
Levels
Previous Daily High 71.505
Previous Daily Low 71.2455
Previous Weekly High 71.8045
Previous Weekly Low 71.077
Previous Monthly High 72.57
Previous Monthly Low 70.5875
Daily Fibonacci 38.2% 71.4059
Daily Fibonacci 61.8% 71.3446
Daily Pivot Point S1 71.2154
Daily Pivot Point S2 71.1007
Daily Pivot Point S3 70.9559
Daily Pivot Point R1 71.4749
Daily Pivot Point R2 71.6197
Daily Pivot Point R3 71.7344

 

 

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