USD/INR Price News: Indian rupee snaps three-day uptrend on the way to 75.00

USD/INR picks up bids towards the intraday top.
Three-week-old support line, February top test sellers ahead of the key SMA.
Bulls need to stay beyond 75.20 before eyeing 10-month-long horizontal resistance.

Anil Panchal FXStreet

USD/INR buyers are back after three-day off as the quote rises to 74.86, up 0.25% intraday, during the initial Indian trading session on Monday. In doing so, the Indian rupee pair justifies Friday’s bounce off an ascending trend line from March 29.

However, the receding bullish strength of the MACD suggests lesser upside scope for the USD/INR prices.

As a result, the 75.00 threshold and 75.20 gain the major attention of countertrend traders.

Though, a clear break of 75.20 will enable USD/INR bulls to battle the key 75.50 horizontal resistance comprising highs marked since mid-July.

Meanwhile, a downside break of the stated immediate support line, near 74.40, will direct short-term USD/INR sellers toward 74.20.

In a case where the pair drops below 74.20, 50% and 61.8% Fibonacci Retracements of February-April upside, respectively around 73.80 and 73.40, will join 200-day SMA level of 73.67 to test the bears.

Overall, USD/INR is bullish but the further upside will have a bumpy road.

USD/INR daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	74.818
Today Daily Change	0.1408
Today Daily Change %	0.19%
Today daily open	74.6772

Trends
Daily SMA20	73.6817
Daily SMA50	73.1497
Daily SMA100	73.2489
Daily SMA200	73.6768

Levels
Previous Daily High	74.9365
Previous Daily Low	74.298
Previous Weekly High	75.496
Previous Weekly Low	74.298
Previous Monthly High	73.958
Previous Monthly Low	72.2569
Daily Fibonacci 38.2%	74.5419
Daily Fibonacci 61.8%	74.6926
Daily Pivot Point S1	74.3379
Daily Pivot Point S2	73.9987
Daily Pivot Point S3	73.6994
Daily Pivot Point R1	74.9764
Daily Pivot Point R2	75.2757
Daily Pivot Point R3	75.6149

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.

AUD/USD stays weak above 0.6900 after China’s trade data

AUD/USD struggles to capitalize on the previous day’s recovery and stays defensive on the 0.6900 level following the narrowing of trade surplus in China. Increased December Fed rate hike bets allows the US Dollar to pause its decline and weigh on the pair. US CPI data is next of note for the major.

USD/JPY retakes 158.00 on weak Japanese data; focus shifts to US CPI

USD/JPY attracts some dip-buyers and retakes 158.00 in the Asian session on Tuesday as a fall in Japan’s Household Spending offsets hawkish BoJ Summary of Opinions, undermining the Japanese Yen. Moreover, Fed hike bets support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.

Gold approaches $4,000 following US inflation data

Gold surrenders a big chunk of Monday’s advance and approaches the key $4,000 mark per troy ounce on Tuesday. The precious metal’s decline follows the solid performance of the US Dollar and rising US Treasury yields after US inflation figures.

Pi Network rebounds from record lows, exits oversold territory as momentum improves

Pi Network (PI) shows a strong recovery on Tuesday, up over 7% after recording its all-time low of $0.0624 the previous day. PI token’s appeal in the derivatives market shows minor improvement, with Open Interest rising to $6.21 million.

Five risks for the global economy in 2027

From AI bubbles to geopolitical breakthroughs, these are some of the five ways why this outlook could go wrong – or right: A severe correction in US stocks triggered by an AI meltdown, second-round inflation effects emerge at scale or geopolitical de-escalation delivers an energy peace dividend.

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.