USD/INR Price News: Indian rupee buyers eye 74.00 inside short-term falling channel

  • USD/INR sellers attack intraday low while extending pullback from eight-day-old resistance.
  • Bullish MACD can trigger another bounce before 200-bar SMA.
  • November 13 high may lure buyers on breaking channel formation.

USD/INR marks 0.12% intraday losses while staying heavy near 74.18 ahead of the Indian market’s open on Tuesday. The pair rose to Friday’s high the previous day before reversing from the upper line of an immediate descending channel.

Although bullish MACD suggests the pair’s strength unless breaking below 200-bar SMA, an intermediate drop to 74.00 can’t be ruled out.

Not only the 200-bar SMA level of 73.97 but the support line of the stated channel, at 73.82 now, also challenges the USD/INR sellers.

On the flip side, an upside clearance of 74.30 can trigger a fresh rise towards November 13 top near 74.80 while the pair’s following upside may be hindered by the monthly top surrounding 75.00.

During the quote’s sustained rise past-75.00, August month’s high near 75.30 and the mid-July peak close to 75.52 could return to the charts.

USD/INR four-hour chart

Trend: Pullback expected

Additional important levels

Today last price 74.1802
Today Daily Change -0.0870
Today Daily Change % -0.12%
Today daily open 74.2672
Daily SMA20 74.2818
Daily SMA50 73.8197
Daily SMA100 74.1506
Daily SMA200 74.6613
Previous Daily High 74.2766
Previous Daily Low 74.0218
Previous Weekly High 74.6046
Previous Weekly Low 74.0672
Previous Monthly High 74.693
Previous Monthly Low 72.9572
Daily Fibonacci 38.2% 74.1793
Daily Fibonacci 61.8% 74.1192
Daily Pivot Point S1 74.1005
Daily Pivot Point S2 73.9338
Daily Pivot Point S3 73.8457
Daily Pivot Point R1 74.3553
Daily Pivot Point R2 74.4434
Daily Pivot Point R3 74.6101



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