USD/INR Price Analysis: Bears look to test 21-DMA support


  • USD/INR remains in the red for the third straight day on Monday.
  • The pair is stuck in tight range near 74.50, awaits fresh impetus.
  • An impending bear cross could exacerbate the pain in the spot.

USD/INR is extending the retreat from three-month highs of 74.91 into a fresh trading week on Monday, falling for the third straight day.

In doing so, the pair is approaching the critical upward-pointing 21-Daily Moving Average (DMA) at 74.25.

The further downside remains exposed below the latter, as the price is about to confirm a bear cross on the daily sticks.

The 100-DMA is on the verge of crossing the 50-DMA to the upside, which would chart a bear cross.

USD/INR daily chart

However, the declines could remain limited, as the 14-day Relative Strength Index (RSI) still sits comfortably above the midline, currently at 58.88.

Only a decisive break above the 75 mark could negate the near-term bearish momentum.

Further up, the buyers would then target the April 23 high of $75.13.

USD/INR additional levels to watch

USD/INR

Overview
Today last price 74.4445
Today Daily Change -0.0353
Today Daily Change % -0.05
Today daily open 74.4798
 
Trends
Daily SMA20 74.2373
Daily SMA50 73.5766
Daily SMA100 73.5668
Daily SMA200 73.539
 
Levels
Previous Daily High 74.9115
Previous Daily Low 74.4798
Previous Weekly High 74.9115
Previous Weekly Low 74.2544
Previous Monthly High 74.5135
Previous Monthly Low 72.4854
Daily Fibonacci 38.2% 74.6447
Daily Fibonacci 61.8% 74.7466
Daily Pivot Point S1 74.3359
Daily Pivot Point S2 74.192
Daily Pivot Point S3 73.9042
Daily Pivot Point R1 74.7676
Daily Pivot Point R2 75.0554
Daily Pivot Point R3 75.1993

 

 

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