USD/INR Price News: 50-DMA defends Indian rupee sellers around 75.00


  • USD/INR struggles to extend pullback from five-week high.
  • Bullish MACD, sustained trading beyond 50-DMA favor buyers.
  • 12-day-old support line follows 50-DMA to test bears, October 2021 high challenge buyers after refreshing monthly high.

USD/INR seesaws around 75.00 during Monday’s Asian session, following a pullback from the highest levels since December 23 the previous day.

In doing so, the Indian rupee (INR) pair stays past the 50-DMA level near 74.90, which restricted the quote’s pullback from the multi-day top on Friday.

Also acting as immediate support is an upward sloping trend line from January 13, near 74.80.

It’s worth mentioning that the 50% Fibonacci retracement (Fibo.) of September-December upside close to 74.75 becomes important to watch during the USD/INR weakness past 74.80 as a break of which will direct the quote towards 74.30 level.

On the flip side, the recent high surrounding 75.35 lure short-term USD/INR buyers ahead of the November 2021 peak of 75.65.

During the quote’s rise past 75.65, the 76.00 threshold and December 2021 high near 76.60 will be in focus.

Overall, bullish MACD signals and the pair’s sustained trading beyond the short-term key supports keep USD/INR buyers hopeful.

USD/INR: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 75.0464
Today Daily Change 0.0224
Today Daily Change % 0.03%
Today daily open 75.024
 
Trends
Daily SMA20 74.4329
Daily SMA50 74.9062
Daily SMA100 74.6807
Daily SMA200 74.2683
 
Levels
Previous Daily High 75.3425
Previous Daily Low 74.8825
Previous Weekly High 75.3425
Previous Weekly Low 74.3313
Previous Monthly High 76.5958
Previous Monthly Low 74.1065
Daily Fibonacci 38.2% 75.0582
Daily Fibonacci 61.8% 75.1668
Daily Pivot Point S1 74.8235
Daily Pivot Point S2 74.623
Daily Pivot Point S3 74.3635
Daily Pivot Point R1 75.2835
Daily Pivot Point R2 75.543
Daily Pivot Point R3 75.7435

 

 

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