USD/INR Price News: Indian rupee sellers attack 74.00 on Dragonfly Doji near key SMA joint

USD/INR extends the previous day’s recovery moves, refreshes intraday high.
Bullish candlestick, strong support battle bearish MACD near monthly low.
Three-week-old horizontal resistance tests buyers but sellers have a bumpy road ahead.

Anil Panchal FXStreet

USD/INR stays well bid around intraday top of 73.95, up 0.22% on a day, amid the initial Indian session on Thursday. In doing so, the quote justifies the previous day’s bullish candlestick above a convergence of 50-day and 200-day SMA.

While the recent corrective pullback is ready to cross the 74.00 threshold, late February tops near 74.20 and a short-term horizontal line close to 74.30 will challenge the further upside.

If at all USD/INR buyers keep reins above 74.30, odds of witnessing the 75.00 round-figure on the chart can’t be ruled out.

Alternatively, a daily closing below 73.65 won’t be enough for USD/INR seller’s entry as March month’s top near 73.60 add extra filter to the south.

Even if the bears manage to break 73.60, multiple levels near 73.20-15 and the 73.00 round-figure may trouble them during further downside.

USD/INR daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	73.9525
Today Daily Change	0.1978
Today Daily Change %	0.27%
Today daily open	73.7547

Trends
Daily SMA20	74.643
Daily SMA50	73.6398
Daily SMA100	73.3559
Daily SMA200	73.6526

Levels
Previous Daily High	73.997
Previous Daily Low	73.7068
Previous Weekly High	75.2685
Previous Weekly Low	73.9361
Previous Monthly High	75.6321
Previous Monthly Low	73.1696
Daily Fibonacci 38.2%	73.8862
Daily Fibonacci 61.8%	73.8177
Daily Pivot Point S1	73.642
Daily Pivot Point S2	73.5293
Daily Pivot Point S3	73.3517
Daily Pivot Point R1	73.9322
Daily Pivot Point R2	74.1098
Daily Pivot Point R3	74.2225

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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