USD/INR New York Price Forecast: Greenback vulnerable below 71.20 vs. rupee

USD/INR broke below the bear flag pattern and the 71.20 support level.
Downside target can be located near the 70.40 level.

Flavio Tosti Independent Analyst

USD/INR weekly chart

USD/INR is trading above the main weekly simple moving averages (SMAs). After the 2018 bull-market, the spot has been consolidating in a rectangle formation.

USD/INR daily chart

The spot is breaking below a bear flag pattern below the 71.20 support level, suggesting that USD/INR could potentially weaken to the 70.40 price level. The 71.20 support has become resistance. Further up lies the 71.60 resistance level.

Additional key levels

USD/INR

Overview
Today last price	71.193
Today Daily Change	0.0778
Today Daily Change %	0.11
Today daily open	71.1152

Trends
Daily SMA20	71.1763
Daily SMA50	71.2274
Daily SMA100	71.211
Daily SMA200	70.6128

Levels
Previous Daily High	71.58
Previous Daily Low	71.077
Previous Weekly High	71.855
Previous Weekly Low	71.1609
Previous Monthly High	72.57
Previous Monthly Low	70.5875
Daily Fibonacci 38.2%	71.2691
Daily Fibonacci 61.8%	71.3879
Daily Pivot Point S1	70.9348
Daily Pivot Point S2	70.7544
Daily Pivot Point S3	70.4318
Daily Pivot Point R1	71.4378
Daily Pivot Point R2	71.7604
Daily Pivot Point R3	71.9408

Author

Flavio Tosti

Independent Analyst

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