USD/INR Price News: 200-SMA probes Indian rupee sellers below 74.00


  • USD/INR fades bounce from one-month low, struggles to extend corrective pullback of late.
  • 200-SMA, short-term falling trend line test recovery moves ahead of mid-April low.
  • 61.8% Fibonacci retracement acts as additional downside filter.

USD/INR prints mild gains around 73.91 while keeping the previous day’s recovery moves during early Tuesday. Even so, the pair fails to cross 200-SMA amid a downward sloping Momentum line, which in turn favors further selling of the quote.

It should, however, be noted that the latest low near 73.80 will challenge intraday selling ahead of the 61.8% Fibonacci retracement of March-April upside close to 73.50.

If at all USD/INR sellers keep reins past-73.50, March-end low near 73.10 and the 73.00 threshold will be the key to watch.

Alternatively, an upside break of 200-SMA around 74.00 needs validation from a descending resistance line from April 22, near 74.20, to recall USD/INR buyers.

Also likely to challenge the pair’s recovery moves is the mid-April low of 74.30.

Overall, USD/INR is in a bearish trajectory but intermediate bounces can’t be ruled out.

USD/INR four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 73.9135
Today Daily Change 0.1016
Today Daily Change % 0.14%
Today daily open 73.8119
 
Trends
Daily SMA20 74.6616
Daily SMA50 73.5841
Daily SMA100 73.3517
Daily SMA200 73.6644
 
Levels
Previous Daily High 74.311
Previous Daily Low 73.7857
Previous Weekly High 75.2685
Previous Weekly Low 73.9361
Previous Monthly High 75.6321
Previous Monthly Low 73.1696
Daily Fibonacci 38.2% 73.9864
Daily Fibonacci 61.8% 74.1103
Daily Pivot Point S1 73.628
Daily Pivot Point S2 73.4442
Daily Pivot Point S3 73.1027
Daily Pivot Point R1 74.1533
Daily Pivot Point R2 74.4948
Daily Pivot Point R3 74.6786

 

 

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