USD/INR Price News: Indian rupee bulls battle key hurdle above 74.00


  • USD/INR extends pullback from 21-DMA, stays pressured near intraday low.
  • Bearish MACD, descending RSI line back the pair sellers.
  • Ascending trend line from late June, five-month-old horizontal area challenge further downside.

USD/INR remains depressed for the second consecutive day after stepping back from 21-DMA, down 0.17% intraday around 74.30 during early Thursday.

In doing so, the Indian rupee (INR) pair battles a five-week-old support line near a horizontal area comprising multiple levels since February 26.

Considering the most bearish signals from the MACD since late May, coupled with the gradually descending RSI, USD/INR sellers should remain hopeful to break the stated support line, near 74.30, followed by the broad support zone above 74.18.

Also challenge the pair’s south-run could be the late June’s swing low and 50-DMA, respectively around the 74.00 threshold and 73.88.

Meanwhile, USD/INR buyers are less likely to take the risk of entries until the quote jumps back above the 21-DMA level of 74.55.

Following that, the monthly peak near 75.00 and 75.30 may test the pair bulls ahead of directing them to the yearly high surrounding 75.65.

USD/INR: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 74.3035
Today Daily Change -0.1267
Today Daily Change % -0.17%
Today daily open 74.4302
 
Trends
Daily SMA20 74.5598
Daily SMA50 73.8553
Daily SMA100 73.7697
Daily SMA200 73.6154
 
Levels
Previous Daily High 74.5613
Previous Daily Low 74.342
Previous Weekly High 75.0155
Previous Weekly Low 74.3213
Previous Monthly High 74.5135
Previous Monthly Low 72.4854
Daily Fibonacci 38.2% 74.4258
Daily Fibonacci 61.8% 74.4775
Daily Pivot Point S1 74.3277
Daily Pivot Point S2 74.2253
Daily Pivot Point S3 74.1085
Daily Pivot Point R1 74.547
Daily Pivot Point R2 74.6638
Daily Pivot Point R3 74.7662

 

 

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