• USD/INR seesaws around intraday low after refreshing multi-day top.
  • 12-day-old ascending trend line, firmer RSI keeps buyers hopeful.
  • Multiple hurdles on the south for the bears to tackle for entry, double-top around 75.65 in focus.

USD/INR retreats to 75.21, following an uptick to refresh the three-week high. In doing so, the Indian rupee (INR) pair buyers take a breather around multi-day top during the run-up to the key 75.65 hurdle.

Immediately favoring the odds of upside is an ascending support line from November 18, near 74.90, as well as a firmer RSI line, not overbought.

Even if the quote drops below 74.90, a three-month-long rising trend line and the 200-DMA, respectively around 74.22 and 74.00, will be crucial to watch as they hold the key to further weakness towards an upward sloping support line from May, near 73.45.

During the quote’s further advances, the latest swing high of 75.47 and the stated double-top near 75.65 will be important to watch.

Should USD/INR bulls keep reins past 75.65, April 2020 peak near 77.00 will gain the market’s attention ahead of the theoretical target surrounding 78.00.

To sum up, USD/INR is ready for further upside but 75.65 is the key to watch.

USD/INR: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 75.2187
Today Daily Change -0.0178
Today Daily Change % -0.02%
Today daily open 75.2365
 
Trends
Daily SMA20 74.5579
Daily SMA50 74.6838
Daily SMA100 74.3307
Daily SMA200 73.993
 
Levels
Previous Daily High 75.3298
Previous Daily Low 74.952
Previous Weekly High 75.3298
Previous Weekly Low 74.7275
Previous Monthly High 75.1908
Previous Monthly Low 73.8515
Daily Fibonacci 38.2% 75.1855
Daily Fibonacci 61.8% 75.0963
Daily Pivot Point S1 75.0158
Daily Pivot Point S2 74.795
Daily Pivot Point S3 74.6379
Daily Pivot Point R1 75.3936
Daily Pivot Point R2 75.5506
Daily Pivot Point R3 75.7714

 

 

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