USD/INR Price News: Indian rupee sellers battle 100-DMA above 73.00


  • USD/INR consolidates Friday’s breakout of six-week-old resistance line, now support.
  • Bullish MACD, monthly support line favor the buyers.
  • 200-day SMA adds to upside filters, 74.00 becomes the key hurdle.

USD/INR struggles to extend Friday’s uptrend above 73.00, up 0.05% around 73.35, amid the initial hour of Monday’s Indian trading session.

The Indian rupee (INR) pair broke a key upside hurdle, now support, from early May the previous day. However, 100-day SMA (DMA) restricts the quote’s immediate upside by the press time.

Given the bullish MACD and the pair’s sustained breakout of the said trend line, not to forget an ascending support line from May 28, keep USD/INR buyers hopeful.

Hence, a daily closing beyond 73.30 adjacent SMA resistance will escalate the recovery moves to 73.50, comprising 200-day SMA. Though, any further rise needs to cross the 74.00 threshold comprising multiple tops marked since late February to convince USD/INR bulls.

Alternatively, pullback moves may bounce off the 73.00 round-figure comprising the previous resistance line and the immediate rising trend line support.

Should the USD/INR sellers conquer the 73.00 threshold, the pair’s further weakness towards 72.75 and 72.30 can’t be ruled out.

USD/INR daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 73.2385
Today Daily Change 0.0067
Today Daily Change % 0.01%
Today daily open 73.2318
 
Trends
Daily SMA20 72.9301
Daily SMA50 73.7355
Daily SMA100 73.2863
Daily SMA200 73.471
 
Levels
Previous Daily High 73.3146
Previous Daily Low 72.913
Previous Weekly High 73.3146
Previous Weekly Low 72.7472
Previous Monthly High 74.311
Previous Monthly Low 72.3386
Daily Fibonacci 38.2% 73.1612
Daily Fibonacci 61.8% 73.0664
Daily Pivot Point S1 72.9917
Daily Pivot Point S2 72.7516
Daily Pivot Point S3 72.5902
Daily Pivot Point R1 73.3933
Daily Pivot Point R2 73.5547
Daily Pivot Point R3 73.7948

 

 

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