USD/INR Price News: Indian rupee remains range-bound near 73.50

USD/INR attacks range-support comprising 100-day SMA and seven-week-old support line.
50-day SMA guards the immediate upside, April’s bottom adds to the downside filters.

Anil Panchal FXStreet

USD/INR holds lower ground near the intraday bottom of 73.40, down 0.03%, amid Friday’s initial Indian trading session. In doing so, the Indian rupee (INR) pair maintains the 35-pips weekly trading range.

The pair’s latest pullback from the upper-end, including a 50-day SMA level near 73.70, takes clues from the bearish MACD to direct USD/INR sellers toward the range support close to 73.35 that encompasses 100-day SMA and an ascending trend line from late March.

It should, however, be noted that the pair’s downside past-73.35, will need validation from April’s low of 73.24 before targeting the 73.00 threshold, not to mention 72.80 and March’s trough close to 72.25.

Meanwhile, an upside break of 73.70 will attack the 74.00 round figure before highlighting the 74.30 key hurdle for the USD/INR bulls, including monthly high and mid-April low.

In a case where USD/INR bulls remain stronger beyond 74.30, the 75.00 and the yearly peak surrounding 75.65 will be in focus.

Overall, USD/INR remains on the bear’s radar but intermediate bounces can’t be ruled out.

USD/INR daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	73.4295
Today Daily Change	-0.0163
Today Daily Change %	-0.02%
Today daily open	73.4458

Trends
Daily SMA20	74.2294
Daily SMA50	73.6675
Daily SMA100	73.3415
Daily SMA200	73.6083

Levels
Previous Daily High	73.683
Previous Daily Low	73.4255
Previous Weekly High	74.311
Previous Weekly Low	73.1972
Previous Monthly High	75.6321
Previous Monthly Low	73.1696
Daily Fibonacci 38.2%	73.5239
Daily Fibonacci 61.8%	73.5847
Daily Pivot Point S1	73.3532
Daily Pivot Point S2	73.2606
Daily Pivot Point S3	73.0956
Daily Pivot Point R1	73.6107
Daily Pivot Point R2	73.7757
Daily Pivot Point R3	73.8683

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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