USD/INR Price News: Indian rupee eyes 73.50 amid potential inverted cup-and-handle


  • USD/INR looks south amid bearish technical set up.
  • Hourly chart displays a potential inverted cup-and-handle.
  • Hourly RSI points south while within the bearish region.

Following the rejection at 50-hourly moving average (HMA) at 73.84 in the US last session, the USD/INR pair reverses the recovery gains on Wednesday.

The spot looks to extend the renewed downside while teasing an inverted cup-and-handle breakdown on the hourly chart.

An hourly close below the neckline support at 73.65 would validate the pattern, calling for a test of the 200-HMA at 73.60.

Subsequently, the sellers would then aim for the pattern target measured at 73.20. Adding credence to the bearish move, the hourly Relative Strength Index (RSI) points south, trending at 39.43.

Any recovery attempts could face immediate resistance at 73.75, the confluence of the 21 and 100-HMAs.

Further north, the 50-HMA barrier is the level to beat for the bulls.

USD/INR: Hourly chart

 

USD/INR: Additional levels

 

USD/INR

Overview
Today last price 73.6925
Today Daily Change -0.1505
Today Daily Change % -0.20
Today daily open 73.843
 
Trends
Daily SMA20 73.4573
Daily SMA50 73.6224
Daily SMA100 74.4087
Daily SMA200 74.3794
 
Levels
Previous Daily High 73.9963
Previous Daily Low 73.6222
Previous Weekly High 73.8892
Previous Weekly Low 73.3046
Previous Monthly High 74.022
Previous Monthly Low 72.7601
Daily Fibonacci 38.2% 73.7651
Daily Fibonacci 61.8% 73.8534
Daily Pivot Point S1 73.6447
Daily Pivot Point S2 73.4465
Daily Pivot Point S3 73.2707
Daily Pivot Point R1 74.0188
Daily Pivot Point R2 74.1946
Daily Pivot Point R3 74.3928

 

 

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