USD/INR Price News: Retreats below 2021 highs on IMF outlook, US CPI eyed


  • USD/INR edges lower on Wednesday in the early European session.
  • INR appreciates on IMF growth outlook.
  • US Doller Index retreats from yearly highs near 94.50.

USD/INR came under pressure after testing the high intraday high around 75.50 on Wednesday. After posting yearly highs in the previous session, the pair retreats following the depreciative move in the greenback. At the time of writing, USD/INR is trading at 75.41, down 0.08% for the day.

US Dollar retreats from one -year high

The US Dollar Index, which tracks the greenback performance against its six major rivals, trades at 94.37 with 0.15% losses. The market sentiment is being cautious on the increased bet that Fed will announce tapering to begin as soon as November. Minutes of the FOMC meeting and the US Core Purchasing Inflation (CPI) index due later today is keenly awaited for more clues on the Fed’s action.

Indian Rupee (INR) appreciated the following reports from the International Monetary Fund (IMF), which stated that India’s economy is expected to grow by 9.5% in 2021 and 8.5% in 2022. The projection is way higher than the developed economies.

As for now, the dynamics around the US dollar continue to influence the pair’s performance.

USD/INR additional levels

USD/INR

Overview
Today last price 75.4111
Today Daily Change -0.0633
Today Daily Change % -0.08
Today daily open 75.4744
 
Trends
Daily SMA20 74.2553
Daily SMA50 74.0166
Daily SMA100 73.9918
Daily SMA200 73.6585
 
Levels
Previous Daily High 75.651
Previous Daily Low 75.187
Previous Weekly High 75.2934
Previous Weekly Low 74.1375
Previous Monthly High 74.5742
Previous Monthly Low 72.8965
Daily Fibonacci 38.2% 75.4738
Daily Fibonacci 61.8% 75.3643
Daily Pivot Point S1 75.2239
Daily Pivot Point S2 74.9735
Daily Pivot Point S3 74.76
Daily Pivot Point R1 75.6879
Daily Pivot Point R2 75.9014
Daily Pivot Point R3 76.1518

 


 

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