USD/INR Price News: Indian rupee buyers await rising wedge confirmation above 73.00


  • USD/INR keeps pullback moves from 200-bar EMA inside a bearish chart pattern.
  • MACD histogram also favors the sellers targeting to refresh the monthly low.
  • 61.8% Fibonacci retracement adds to the upside barriers.

USD/INR remains depressed around 73.36, down 0.03% intraday, ahead of the Indian market open on Tuesday. The pair took a U-turn from 200-bar EMA the previous day while snapping a two-day uptrend.

With the bearish MACD joining the quote’s pullback from the key EMA, sellers are likely to keep the reins.

However, a confirmation of the short-term rising wedge bearish formation on the four-hour chart (H4), with a downside break of 73.33 support line, becomes necessary for the sellers to tighten their grips.

Following that, the 73.00 threshold can offer an intermediate halt ahead of directing the USD/INR bears to challenge the monthly low of 72.95.

Meanwhile, an upside clearance of 200-bar EMA, currently around 73.55, will have to cross the bearish chart pattern’s resistance line, at 73.60, to defy the downside signals.

It should also be noted that 61.8% Fibonacci retracement of the pair’s September 24 to October 09 downside, at 73.62, followed by the October 07 high of 73.64, will raise bars for the USD/INDR bull’s entry past-73.60.

USD/INR daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 73.36
Today Daily Change -0.0248
Today Daily Change % -0.03%
Today daily open 73.3848
 
Trends
Daily SMA20 73.441
Daily SMA50 73.7426
Daily SMA100 74.5064
Daily SMA200 74.2965
 
Levels
Previous Daily High 73.554
Previous Daily Low 73.3046
Previous Weekly High 73.524
Previous Weekly Low 72.9612
Previous Monthly High 74.022
Previous Monthly Low 72.7601
Daily Fibonacci 38.2% 73.3998
Daily Fibonacci 61.8% 73.4587
Daily Pivot Point S1 73.2749
Daily Pivot Point S2 73.165
Daily Pivot Point S3 73.0255
Daily Pivot Point R1 73.5244
Daily Pivot Point R2 73.6639
Daily Pivot Point R3 73.7738

 

 

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