USD/INR Price News: 82.30 acts as a barricade, focus in on US Durable Goods Orders

USD/INR is oscillating in a 10-pip range as investors await US Durable Goods Orders and preliminary PMI data.
Lack of follow-up buying in the S&P500 futures after a confident recovery move has stemmed clouds of uncertainty.
The Indian government has started assessing the performance of state-run lenders and PSUs after the global banking debacle.

Sagar Dua FXStreet

The USD/INR pair is displaying topsy-turvy moves in a narrow range of 82.20-82.30 in the Asian session. The asset has a positive opening on Friday as the US Dollar Index (DXY) rebounded firmly after dropping to near 102.00 in Thursday’s session. The USD Index has extended its recovery to near 102.68 as other central banks are also saying no to further rate hikes and are looking to assess the impact of current monetary policy.

S&P500 futures are showing choppy moves in the Asian session. The lack of follow-up buying in the 500-US stocks basket futures after a confident recovery move on Thursday has stemmed clouds of uncertainty. Two-year US Treasury yields that closely follow the US equities benchmark look vulnerable above 3.8%.

Going forward, the release of the United States Durable Goods Orders (Feb) data will be a key trigger for the mighty USD Index. As per the consensus, the economic data will expand by 0.6% against a contraction of 4.5% released earlier. The economic indicator shows forward demand for Durable Goods and an increment in the same could renew fears of policy-tightening by the Federal Reserve (Fed).

Apart from that, preliminary US S&P Global PMI (March) data will be keenly watched. The Manufacturing PMI is expected to trim to 47.0 from the former release of 47.3. And, Service PMI might soften to 50.5 from the prior release of 50.6.

On the Indian Rupee front, Prime Minister Modi-led-government has initiated finding out any signs of banking shakedown after escalating global banking fiasco. Finance Minister Nirmala Sitharaman has ordered for the assessment of state-run lenders and public sector banks (PSUs) about their performance and assessment of capital requirements.

USD/INR

Overview
Today last price	82.2868
Today Daily Change	0.0568
Today Daily Change %	0.07
Today daily open	82.23

Trends
Daily SMA20	82.3562
Daily SMA50	82.209
Daily SMA100	82.1198
Daily SMA200	81.1951

Levels
Previous Daily High	82.7295
Previous Daily Low	82.0371
Previous Weekly High	83.0315
Previous Weekly Low	81.512
Previous Monthly High	83.082
Previous Monthly Low	81.5032
Daily Fibonacci 38.2%	82.3016
Daily Fibonacci 61.8%	82.465
Daily Pivot Point S1	81.9349
Daily Pivot Point S2	81.6398
Daily Pivot Point S3	81.2425
Daily Pivot Point R1	82.6273
Daily Pivot Point R2	83.0246
Daily Pivot Point R3	83.3197

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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