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

Today last price 73.1276
Today Daily Change -0.1365
Today Daily Change % -0.19%
Today daily open 73.2641
Daily SMA20 72.8188
Daily SMA50 73.0391
Daily SMA100 73.4857
Daily SMA200 74.0417
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



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.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Bulls target 100-DMA again ahead of Eurozone PMIs

EUR/USD is back on the bid above 1.2000, snapping three straight days of sluggishness. The US dollar has resumed its downtrend, helping the spot to make another attempt towards 1.2050. Eurozone/US PMIs awaited after a non-event ECB.


GBP/USD: Looks to UK Retail Sales, PMI to regain 1.3900

GBP/USD stays mildly bid above 1.3850, as the US dollar retreats across the board. Covid vaccine updates and upbeat UK data outweigh renewed Brexit jitters. Focus shifts to the UK Retail Sales and PMIs.


Bitcoin price falls below $50K as investors rush to exit crypto markets on Biden's tax proposal

Bitcoin price crashed below $50,000 after an announcement revealed that US President Joe Biden could increase capital gains taxes for the rich. The leading cryptocurrency fell in tandem with the US stock market as fears of a potential tax hike loom.

Read more

Gold remains two steps away from $1800 and beyond

Gold (XAU/USD) is attempting a tepid bounce after falling 1% on Thursday amid a sharp recovery staged by the US dollar. Risk-aversion gripped the markets on Bloomberg report that the Biden administration is proposing higher taxes on the wealthy to pay for its social plan.

Gold News

Lagarde cautiousness & Biden's taxes

All market chatter is about Biden's taxes & their impact on shares and cryptos. But let's discuss that ECB decision first-- The economic outlook is improving in Europe, yet you wouldn't know it from Lagarde's Thursday comments after the ECB decision.

Read more