USD/INR Price News: 200-bar SMA underpins Indian rupee strength

USD/INR refreshes intraday high, breaks immediate choppy range below 74.00.
200-bar SMA defies bullish MACD amid downward trajectory since November 13.

Anil Panchal FXStreet

USD/INR trades near the intraday high of 73.98 ahead of Indian session open on Monday. In doing so, the quote breaks the immediate trading range between 73.96 and 73.93 while staying below 200-bar SMA.

Although bullish MACD suggests the pair’s another attempt to cross the key SMA level, currently around 74.05, USD/INR bulls have failed twice in recent days to break the important hurdle, which in turn keeps the sellers hopeful while considering the two-week-old downtrend.

Other than the 200-bar SMA level of 74.05, November 19 high near 74.32 and November 13 top close to 74.95 also add filters to the pair’s upside moves.

Meanwhile, the last week’s low near 73.75/70 can entertain bears before directing them to the current month’s trough surrounding 73.65.

However, a falling trend line from November 18, at 73.59 now, will restrict further downside of the USD/INR.

USD/INR four-hour chart

Trend: Bearish

additional important levels

Overview
Today last price	73.9428
Today Daily Change	0.0100
Today Daily Change %	0.01%
Today daily open	73.9328

Trends
Daily SMA20	74.2151
Daily SMA50	73.8435
Daily SMA100	74.1047
Daily SMA200	74.7041

Levels
Previous Daily High	74.264
Previous Daily Low	73.7582
Previous Weekly High	74.2821
Previous Weekly Low	73.7392
Previous Monthly High	74.693
Previous Monthly Low	72.9572
Daily Fibonacci 38.2%	74.0708
Daily Fibonacci 61.8%	73.9514
Daily Pivot Point S1	73.706
Daily Pivot Point S2	73.4791
Daily Pivot Point S3	73.2001
Daily Pivot Point R1	74.2118
Daily Pivot Point R2	74.4908
Daily Pivot Point R3	74.7177

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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