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

Today last price 74.3035
Today Daily Change -0.1267
Today Daily Change % -0.17%
Today daily open 74.4302
Daily SMA20 74.5598
Daily SMA50 73.8553
Daily SMA100 73.7697
Daily SMA200 73.6154
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



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

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD stable around 1.1730 ahead of US ISM figures

EUR/USD recovered on a better market mood, but tepid European data prevent it from advancing further. Eyes now on official US ISM figures.


GBP/USD rallies to 1.3700 with BOE's tightening hints

GBP/USD jumped to 1.3700 as the Bank of England hinted at a rate hike as the first step towards normalization. MPC voted 9-0 to leave rates on hold but voted 7-2 on reducing QE. Higher rates before trimming facilities are BOE's preferred movement. 


XAU/USD edges higher on weaker USD, hawkish Fed/risk-on to cap gains

Gold attracted some dip-buying near the $1,760 region on Thursday and for now, seems to have stalled the post-FOMC retracement slide from the $1,787 area, or weekly tops. 

Gold News

Crypto markets take off without clear goals

Bitcoin price shows a healthy bounce off the 79% Fibonacci retracement level at $40,727, suggesting temporary relief. Ethereum price creeps back above the $3,000 psychological level as it follows in BTC’s footsteps.

Read more

Vinco Ventures Inc keeps falling, as key deadline nears

NASDAQ: BBIG fell for the second straight day on Wednesday and eroded another 2.95%, ending the day at $6.57, still off the three-week troughs of $5.93 reached a session before.

Read more