USD/INR Price Analysis: Struggling to capitalize on breakout

USD/INR's corrective bounce has likely ended, according to technical charts.
The pair risks falling back to 70.80.

Omkar Godbole FXStreet Contributor

USD/INR broke higher from a sideways channel on Friday, but so far, the bulls have failed to make their presence felt.

The currency pair fell by 0.10% on Monday, forming an inverted bearish hammer. That candle indicates the bounce from lows near 70.70 has likely ended.

Further, the relative strength index (RSI) on the hourly chart has dived out of an ascending trendline.

The pair, therefore, risks falling to support at 70.80. A violation there would expose the recent low of 70.67.

On the higher side, 71.15 is the level to beat for the bulls.

Hourly chart

Daily chart

Trend: Bearish

Technical levels

USD/INR

Overview
Today last price	71.144
Today Daily Change	0.1215
Today Daily Change %	0.17
Today daily open	71.0225

Trends
Daily SMA20	71.2395
Daily SMA50	71.3344
Daily SMA100	71.2452
Daily SMA200	70.5239

Levels
Previous Daily High	71.295
Previous Daily Low	69.0705
Previous Weekly High	71.27
Previous Weekly Low	70.5875
Previous Monthly High	71.98
Previous Monthly Low	70.328
Daily Fibonacci 38.2%	69.9203
Daily Fibonacci 61.8%	70.4452
Daily Pivot Point S1	69.6303
Daily Pivot Point S2	68.2382
Daily Pivot Point S3	67.4058
Daily Pivot Point R1	71.8548
Daily Pivot Point R2	72.6872
Daily Pivot Point R3	74.0793

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

AUD/USD hits eight-month lows below 0.6850 amid bullish USD

AUD/USD stays defensive below 0.6850, hitting an eight-month low in the Asian session on Thursday as the possibility of a steeper Fed rate hike in December helps the US Dollar hold near its highest level since April 2025. Geopolitical uncertainty also supports the safe-haven buck, while the RBA’s cautious, on-hold stance limits the Aussie.

USD/JPY eases from near 160.00 amid looming intervention risks, BoJ hike bets

USD/JPY retreats slightly from an over two-month high as the recent surge back to the 160.00 psychological mark prompted verbal warnings from Japanese authorities and sparked fears of direct FX intervention. Moreover, data showed that Japan’s wholesale inflation picked up again in October, strengthening the case for a BoJ hike in December and lifting the Japanese Yen. However, a bullish US Dollar, bolstered by odds of a jumbo Fed rate hike in December, could cap the pair's downside.

Gold shifts the focus to $3,800 amid stronger US Dollar

Gold comes under heightened downside pressure, retreating for the third consecutive day and approaching the $3,800 region per troy ounce on Thursday. Increasing speculation of a 50-bps rate hike by the Fed in December continues to weigh on the precious metal amid further gains in US Treasury yields.

Top Altcoins Price Forecast: Ripple, Cardano and Solana halt decline amid signs of exhaustion

Top altcoins, Ripple (XRP), Cardano (ADA), and Solana (SOL), hold steady on Thursday, halting the prevailing decline linked to hot US inflation data and the post-US midterms period.

Nvidia shares crash as Jensen Huang resigns as CEO

Nvidia (NVDA) shares collapsed in Thursday's premarket after longtime CEO and co-founder Jensen Huang resigned as CEO in the face of board scrutiny over several affairs. Nvidia shares have shed 10% at the time of writing as the leading AI chipmaker chose chief financial officer (CFO) Colette Kress as interim CEO.

What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.