USD/INR Price News: Indian rupee bears battle 50-day SMA to justify key breakout


  • USD/INR consolidates recent gains around monthly top, clings to 50-day SMA.
  • Bullish MACD, sustained break of 16-week-old resistance, now support, favor bulls.
  • Sellers need to drop back below the stated trend line to retake controls.

USD/INR prints mild losses while easing from the month’s high to around 73.04 during the initial Indian session on Friday. The quote crossed a downward sloping resistance line from November 04 the previous day. However, 50-day SMA seems to test the bulls off-late.

Considering the bullish MACD joining the sustained trend line breakout, USD/INR is up for further rise but awaits a fresh monthly high above 73.20 to recall the pair buyers.

Following that, the 100-day SMA level of 73.48 and the yearly top around 73.56 will be eyed.

On the contrary, the downside break of the previous resistance line, at 72.80 now, may recall the 72.50 and the 72.30 levels on the chart.

In a case where the USD/INR bears keep dominating past-72.30, the early 2020 tops near 72.20 will add filters to the downside targeting the 72.000 threshold.

USD/INR daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 73.048
Today Daily Change -0.0724
Today Daily Change % -0.10%
Today daily open 73.1204
 
Trends
Daily SMA20 72.7556
Daily SMA50 73.0636
Daily SMA100 73.4805
Daily SMA200 74.0773
 
Levels
Previous Daily High 73.1319
Previous Daily Low 72.1719
Previous Weekly High 73.021
Previous Weekly Low 72.429
Previous Monthly High 73.569
Previous Monthly Low 72.8132
Daily Fibonacci 38.2% 72.7652
Daily Fibonacci 61.8% 72.5386
Daily Pivot Point S1 72.4842
Daily Pivot Point S2 71.8481
Daily Pivot Point S3 71.5242
Daily Pivot Point R1 73.4442
Daily Pivot Point R2 73.7681
Daily Pivot Point R3 74.4042

 

 

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