USD/INR Price News: Indian rupee faces stiff resistance at 200-SMA on 4H


  • USD/INR is defending the 200-SMA support on the 4H chart.
  • The 50 and 100-SMAs confluence at 74.57 continue to guard the upside.
  • RSI ticks higher but remains below the midline, backing the bears.

After witnessing good two-way business on Monday, USD/INR is posting small gains in Tuesday’s Asian trading amid a mixed market sentiment.

The spot is hovering in the lower bound of the recent trading range blow mid-74s due to the recent decline in the US dollar across its main peers.  

Looking at USD/INR’s four-hour chart, the cross has managed to defend the 200-Simple Moving Average (SMA) at 74.29 (for now).

With the Relative Strength Index (RSI) seeing an uptick, the price has bounced off lows. However, the leading indicator continues to hold within the bearish region, suggesting that the bearish bias remains well in place for the currency pair.

A four-hourly closing below the 200-SMA is needed to expose the 74.00 mark.

USD/INR: Four-hour chart

On the flip side, immediate resistance is placed at the mildly bearish 21-SMA at 74.43. Further up, the buyers could aim for the July 21 high of 74.66.

The bulls need a sustained break above 74.57, which is the confluence of the horizontal 50 and 100-SMAs, in order to sustain a meaningful recovery towards 0.7500.

USD/INR: Additional levels

USD/INR

Overview
Today last price 74.336
Today Daily Change 0.0586
Today Daily Change % 0.08
Today daily open 74.2774
 
Trends
Daily SMA20 74.5409
Daily SMA50 73.8026
Daily SMA100 73.7352
Daily SMA200 73.6065
 
Levels
Previous Daily High 74.578
Previous Daily Low 74.2683
Previous Weekly High 75.0155
Previous Weekly Low 74.3213
Previous Monthly High 74.5135
Previous Monthly Low 72.4854
Daily Fibonacci 38.2% 74.3866
Daily Fibonacci 61.8% 74.4597
Daily Pivot Point S1 74.1711
Daily Pivot Point S2 74.0648
Daily Pivot Point S3 73.8613
Daily Pivot Point R1 74.4808
Daily Pivot Point R2 74.6843
Daily Pivot Point R3 74.7906

 

 

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