USD/INR Price News: Indian rupee sellers battle short-term hurdle around mid-73.00s

USD/INR pokes intraday high amid second consecutive positive day.
Two-week-old resistance line guards immediate run-up, falling trend line from April 21, 200-SMA add to the upside filters.
Bullish MACD backs corrective pullback, bears need clear break of 73.20 to tighten the grips.

Anil Panchal FXStreet

USD/INR extends the week-start recovery to 73.51, up 0.05% intraday, amid the initial Indian trading session on Tuesday.

The Indian rupee (INR) pair dropped to the fresh low since early April on Friday but multiple lows marked in over five weeks triggered the quote’s corrective pullback afterward.

The recovery moves also propel the MACD bullish signals to attack a downward sloping resistance line from April 26.

Although buyers are likely to overcome the immediate hurdle around 73.52, any further upside seems doubtful as another downward sloping trend line from April 21 and 200-SMA, respectively near 73.90 and 74.15, could test the USD/INR bulls afterward.

Meanwhile, 73.20 becomes the key short-term support before the 73.00 threshold.

USD/INR four-hour chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	73.5015
Today Daily Change	0.0160
Today Daily Change %	0.02%
Today daily open	73.4855

Trends
Daily SMA20	74.45
Daily SMA50	73.6466
Daily SMA100	73.3496
Daily SMA200	73.63

Levels
Previous Daily High	73.496
Previous Daily Low	73.2675
Previous Weekly High	74.311
Previous Weekly Low	73.1972
Previous Monthly High	75.6321
Previous Monthly Low	73.1696
Daily Fibonacci 38.2%	73.4087
Daily Fibonacci 61.8%	73.3548
Daily Pivot Point S1	73.3367
Daily Pivot Point S2	73.1878
Daily Pivot Point S3	73.1082
Daily Pivot Point R1	73.5652
Daily Pivot Point R2	73.6448
Daily Pivot Point R3	73.7937

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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