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USD/INR Price Analysis: Greenback starting 2020 near 71.40 against Indian rupee

  • USD/INR created a bear flag in the second part of December 2019.
  • The level to beat for sellers is the 71.20 support.
 

USD/INR weekly chart

 
In 2019, USD/INR has been consolidating the 2018 bull run while trading above the 100/200-period weekly simple moving averages. 
 

USD/INR daily chart

 
In the second part of December, the market formed a bear flag below the 71.60 resistance. A bearish break below the 71.20 support level can open the doors for a drop towards the 70.40 key support level. Then, if the sellers overcome 70.40, the market has room to fall to the 69.40 and 68.40 levels. Resistances can be seen near 71.60, 72.00 and 72.40 levels.
 

Additional key levels

USD/INR

Overview
Today last price71.346
Today Daily Change0.1605
Today Daily Change %0.23
Today daily open71.1855
 
Trends
Daily SMA2071.0801
Daily SMA5071.2696
Daily SMA10071.3017
Daily SMA20070.3896
 
Levels
Previous Daily High71.455
Previous Daily Low71.165
Previous Weekly High71.5725
Previous Weekly Low71.04
Previous Monthly High71.98
Previous Monthly Low70.328
Daily Fibonacci 38.2%71.2758
Daily Fibonacci 61.8%71.3442
Daily Pivot Point S171.082
Daily Pivot Point S270.9785
Daily Pivot Point S370.792
Daily Pivot Point R171.372
Daily Pivot Point R271.5585
Daily Pivot Point R371.662

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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