USD/INR Price News: Inverse H&S keeps Indian rupee sellers hopeful near 73.00

  • USD/INR snaps two-day upbeat inside a bullish chart pattern.
  • Upbeat MACD signals back buyers but 200-day SMA adds to the upside filters.

USD/INR refreshes intraday low to 72.95, down 0.05%, amid Thursday’s early Indian session. In doing the quote portrays the market’s anxiety ahead of the key US Consumer Price Index (CPI) data to drop for the first time in three days.

Read: US CPI May Preview: Inflation angst is coming

Even so, bullish cross-over the MACD lines join the up gradually increasing histogram teases the Indian rupee (INR) sellers inside an inverse head-and-shoulders (H&S) chart pattern on the daily play.

While a clear break above 73.10 necklines confirms the USD/INR theoretical run-up towards the 75.00 levels, 200-day SMA near 73.50 and May 05 top near the 74.00 threshold offer intermediate checks to the prices.

On the contrary, pullback moves below the weekly bottom of 72.74 defy the bullish chart pattern, which in turn can direct the USD/INR prices to the previous month’s low near 72.33.

Overall, USD/INR bears seem to have tired of late and a confirmation of the inverse H&S could set the tone for a trend change.

USD/INR daily chart

Trend: Further recovery expected

additional important levels

Today last price 72.956
Today Daily Change -0.0346
Today Daily Change % -0.05%
Today daily open 72.9906
Daily SMA20 72.9542
Daily SMA50 73.7439
Daily SMA100 73.2837
Daily SMA200 73.4733
Previous Daily High 73.0545
Previous Daily Low 72.8835
Previous Weekly High 73.3172
Previous Weekly Low 72.358
Previous Monthly High 74.311
Previous Monthly Low 72.3386
Daily Fibonacci 38.2% 72.9892
Daily Fibonacci 61.8% 72.9488
Daily Pivot Point S1 72.8979
Daily Pivot Point S2 72.8052
Daily Pivot Point S3 72.7269
Daily Pivot Point R1 73.0689
Daily Pivot Point R2 73.1472
Daily Pivot Point R3 73.2399



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