USD/INR Price News: Indian rupee struggles at one-week low, 74.10 in focus

USD/INR retreats from intraday high during three-day uptrend.
Firmer Momentum line, clear break of 50-SMA, descending trend line from December 24 keep buyers hopeful.
100-SMA guards immediate upside, monthly low adds to the downside filters.

Anil Panchal FXStreet

USD/INR eases from weekly top to 74.17 during early Monday morning in Europe. In doing so, the Indian rupee (INR) pair challenges the three-day rebound from the late September levels.

Even so, a clear upside break of the 50-SMA and a three-week-old descending trend line, around 74.10, keep USD/INR buyers hopeful. Also adding to the bullish bias is the firmer Momentum line.

With this, USD/INR bulls eye the 100-SMA level of 74.37 ahead of challenging the monthly peak near 74.70.

Following that, 200-SMA and 50% Fibonacci retracement of December 15 to January 12 downside, respectively around 75.00 and 75.15, will be crucial.

Meanwhile, a downside break of 74.10 will need validation from the 74.00 threshold before directing the USD/INR bears towards the latest swing low surrounding 73.70.

In a case where the quote remains bearish past 73.70, the 73.35 and September’s low around 72.90 should gain the pair sellers.

USD/INR: Four-hour chart

Trend: Further weakness expected

additional important levels

Overview
Today last price	74.182
Today Daily Change	0.0188
Today Daily Change %	0.03%
Today daily open	74.1632

Trends
Daily SMA20	74.5944
Daily SMA50	74.8225
Daily SMA100	74.5386
Daily SMA200	74.2846

Levels
Previous Daily High	74.1986
Previous Daily Low	73.894
Previous Weekly High	74.4219
Previous Weekly Low	73.7283
Previous Monthly High	76.5958
Previous Monthly Low	74.1065
Daily Fibonacci 38.2%	74.0823
Daily Fibonacci 61.8%	74.0103
Daily Pivot Point S1	73.9719
Daily Pivot Point S2	73.7806
Daily Pivot Point S3	73.6672
Daily Pivot Point R1	74.2766
Daily Pivot Point R2	74.39
Daily Pivot Point R3	74.5813

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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