USD/INR Price News: Indian rupee bounces off three-week low, stays on the way to 75.65

  • 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

Today last price 75.2187
Today Daily Change -0.0178
Today Daily Change % -0.02%
Today daily open 75.2365
Daily SMA20 74.5579
Daily SMA50 74.6838
Daily SMA100 74.3307
Daily SMA200 73.993
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



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD struggles to rebound, holds near 1.1150 after US data

EUR/USD trades around 1.1150 in the early American session on Friday as investors assess the latest inflation data from the US. According to the US Bureau of Economic Analysis, Core PCE Price Index rose to 4.9% on a yearly basis in December from 4.7% in November, surpassing the market expectation of 4.8%. 


GBP/USD clings to small gains above 1.3400 on mixed US data

GBP/USD posts modest daily gains slightly above 1.3400 on Friday as the dollar rally loses steam. The data from the US showed that the core PCE inflation edged higher to 4.9% in December. On a negative note, Personal Spending contracted by 0.6% on a monthly basis.


Gold recovers modestly after US data, stays below $1,800

Gold managed to stage a rebound from the multi-week low it set below $1,780 but continues to trade deep in the red near $1,790. The benchmark 10-year US Treasury bond yield is rising more than 1% on the day after US data, limiting XAU/USD's recovery.

Gold News

Bitcoin Weekly Forecast: Federal Reserve cannot tame BTC’s uptrend

Bitcoin has experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed's decision was announced. As losses have extended and BTC has entered into the $30,000 zone, concerns regarding Bitcoin being in a bear market have increased.

Read more

Apple share price set to rise after another record quarter

With the Nasdaq closing at its lowest level in seven months yesterday, the Apple share price has also found itself on the end of the recent weakness in tech shares, down over 12% from its record highs in early January.

Read more