USD/INR Price News: Indian rupee remains sidelined above 74.00


  • USD/INR stays mildly bid inside a weekly rectangle.
  • Upbeat Momentum, sustained trading beyond 73.60 key support keeps buyers hopeful.
  • Multiple levels from early April highlight 74.55-60 as strong resistance.

USD/INR eases to 74.23, up 0.06% intraday, amid the initial Indian trading hour on Monday. The Indian rupee (INR) pair has been stuck in a choppy range between 74.00 and 74.55-60 since last week.

However, the upbeat Momentum line and the pair’s successful trading above 50-day SMA, as well as a monthly support line, back USD/INR bulls aim to cross the 74.55-60 immediate hurdle, comprising 12-week-old horizontal line.

Following that, the 75.00 psychological magnet and 75.30 resistance could test the quote’s further upside ahead of directing the north-run towards the yearly top near 75.65.

On the contrary, a downside break of 74.00 will aim for the 73.60-55 support convergence, including the stated SMA and trend line.

Although USD/INR bears are likely to retreat from 73.55, any further weakness won’t hesitate to challenge the previous month’s low near 72.35. During the fall, the 73.00 threshold may offer an inter3ediate halt to watch.

USD/INR daily chart

Trend: Sideways

Additional important levels

Overview
Today last price 74.2365
Today Daily Change 0.0413
Today Daily Change % 0.06%
Today daily open 74.1952
 
Trends
Daily SMA20 73.4518
Daily SMA50 73.6297
Daily SMA100 73.3897
Daily SMA200 73.4928
 
Levels
Previous Daily High 74.3594
Previous Daily Low 74.1177
Previous Weekly High 74.5135
Previous Weekly Low 74.0585
Previous Monthly High 74.311
Previous Monthly Low 72.3386
Daily Fibonacci 38.2% 74.2671
Daily Fibonacci 61.8% 74.21
Daily Pivot Point S1 74.0888
Daily Pivot Point S2 73.9824
Daily Pivot Point S3 73.8471
Daily Pivot Point R1 74.3305
Daily Pivot Point R2 74.4658
Daily Pivot Point R3 74.5722

 

 

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