USD/INR Price News: Indian rupee buyers eye previous hurdles above 73.00


  • USD/INR stays offered near weekly bottom, prints three-day losing streak.
  • 50-day SMA, four-month-old falling trend line offer immediate support.
  • Bulls can look for a daily close beyond 200-day SMA for trend reversal.

USD/INR holds lower ground near 73.12, down 0.20% intraday, amid the initial Indian session on Wednesday. In doing so, the quote drops for the third consecutive day after stepping back from 200-day SMA on Friday.

Not only another U-turn from 200-day SMA but downward sloping RSI also directs USD/INR sellers towards re-testing the 50-day SMA level of 73.02.

However, the pair’s weakness past-73.02 will be challenged by the 73.00 threshold and the prior resistance line from November, currently around 72.85.

Meanwhile, fresh upside momentum can aim for 73.50 and the 74.00 round-figure before trying to conquer the tough nut to the north, namely the 200-day SMA level of 74.02.

Although USD/INR bulls are likely not to cross the 74.02 hurdle, a daily closing beyond the same will not hesitate to poke the late 2020 top close to the 75.00 level.

USD/INR daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 73.1276
Today Daily Change -0.1365
Today Daily Change % -0.19%
Today daily open 73.2641
 
Trends
Daily SMA20 72.8188
Daily SMA50 73.0391
Daily SMA100 73.4857
Daily SMA200 74.0417
 
Levels
Previous Daily High 73.515
Previous Daily Low 73.1886
Previous Weekly High 74.1841
Previous Weekly Low 72.1719
Previous Monthly High 74.1841
Previous Monthly Low 72.1719
Daily Fibonacci 38.2% 73.3133
Daily Fibonacci 61.8% 73.3903
Daily Pivot Point S1 73.1301
Daily Pivot Point S2 72.9962
Daily Pivot Point S3 72.8037
Daily Pivot Point R1 73.4565
Daily Pivot Point R2 73.649
Daily Pivot Point R3 73.7829

 

 

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