USD/INR Price News: Indian rupee rises to the strongest since March 2020, 72.00 in the spotlight


  • USD/INR slips below 72.40 to refresh the 11-month low.
  • RSI has a downside gap before it hits the oversold area, suggesting further weakness.
  • 10-day SMA, six-week-old resistance line guard immediate upside.

USD/INR takes offers near 72.37, the fresh low since March 2020, during the initial Indian session on Monday. In doing so, the quote drops for the fourth consecutive day.

Considering the downward sloping RSI, not oversold, USD/INR bears are likely to keep the reins. However, a descending support line from November 2020, near 72.15, can challenge short-term declines.

Also acting as downside filters are the highs marked between late 2019 and early 2020, around 72.20.

It should, however, be noted that the 72.00 threshold gains the ultimate attention of the USD/INR bears.

On the flip side, an upside break of 10-day SMA, at 72.67 now, will favor a fresh run-up towards a descending resistance line from January 11, currently around 72.85.

During the quote’s sustained run-up beyond 72.85, the 73.00 round-figure and the monthly peak surrounding 73.20 will be the key to watch.

Overall, USD/INR is in a bearish trend but intermediate bounces can’t be ruled out.

USD/INR daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 72.3558
Today Daily Change -0.2063
Today Daily Change % -0.28%
Today daily open 72.5621
 
Trends
Daily SMA20 72.8349
Daily SMA50 73.1429
Daily SMA100 73.5111
Daily SMA200 74.1385
 
Levels
Previous Daily High 72.707
Previous Daily Low 72.429
Previous Weekly High 73.021
Previous Weekly Low 72.429
Previous Monthly High 73.569
Previous Monthly Low 72.8132
Daily Fibonacci 38.2% 72.5352
Daily Fibonacci 61.8% 72.6008
Daily Pivot Point S1 72.4251
Daily Pivot Point S2 72.2881
Daily Pivot Point S3 72.1471
Daily Pivot Point R1 72.703
Daily Pivot Point R2 72.844
Daily Pivot Point R3 72.981

 

 

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