USD/INR Price News: RSI divergence favors Indian rupee to print mild gains below 75.00


  • USD/INR eases from three-month top, probes three-day uptrend.
  • Bearish divergence of RSI challenges pair buyers, 100-SMA support in focus.
  • Fresh upside can aim for monthly resistance line before the yearly top.

USD/INR steps back from the highest since late April, down 0.14% intraday around 74.88, as European traders brace for Tuesday’s bell.

With the higher-high formation of the Indian rupee (INR) pair contradicting the lower-high of RSI, a bearish divergence appears on the four-hour chart.

The same joins overbought RSI conditions to trigger the quote’s latest pullback from the multi-day top. However, the further downside will be tested by the 100-SMA level of 74.55.

Should the USD/INR fails to bounce off 74.55, the monthly low of 74.25 and the 74.00 threshold could return to the chart.

On the flip side, fresh buying may wait for a clear run-up beyond the 75.00 round figure. Also challenging the USD/INR bulls is an ascending support line from June 18, near 75.40.

However, a sustained upside past 75.40 will not hesitate to challenge the yearly high close to $75.60.

USD/INR: Four-hour chart

Trend: Pullback expected 

Additional important levels

Overview
Today last price 74.882
Today Daily Change -0.1064
Today Daily Change % -0.14%
Today daily open 74.9884
 
Trends
Daily SMA20 74.4819
Daily SMA50 73.6978
Daily SMA100 73.6722
Daily SMA200 73.5797
 
Levels
Previous Daily High 75.0155
Previous Daily Low 74.631
Previous Weekly High 74.8515
Previous Weekly Low 74.4034
Previous Monthly High 74.5135
Previous Monthly Low 72.4854
Daily Fibonacci 38.2% 74.8686
Daily Fibonacci 61.8% 74.7779
Daily Pivot Point S1 74.7411
Daily Pivot Point S2 74.4938
Daily Pivot Point S3 74.3566
Daily Pivot Point R1 75.1256
Daily Pivot Point R2 75.2628
Daily Pivot Point R3 75.5101

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Indecisive above 1.1700 as Fed tapering looms

EUR/USD retreats towards 1.1700, teasing monthly low for third straight day. Market sentiment improves over Evergrande, US debt limit extension. ECB policymakers cite inflation risks. Fed remains in focus, as it is expected to provide hints on tapering timing.

EUR/USD News

GBP/USD remains defensive near 1.3650 amid steady USD, Fed eyed

GBP/USD trades virtually unchanged around 1.3650 following the footprint of the previous session. Supply-chain bottlenecks, higher gas prices limited gains for sterling. US dollar remains elevated near 92.30 ahead of the Fed decision.

GBP/USD News

Gold cheers China-led risk-on mood on the way to $1,800, focus on Fed

Gold (XAU/USD) regains upside momentum after a sluggish start to the key day. That said, the yellow metal rises for the fourth consecutive day, up 0.10% around $1,776 during early Wednesday. 

Gold News

Dogecoin price heads south toward $0.10, DOGE bulls show little opposition

Dogecoin price action points to a continuation of the downside pressure it has experienced over the last month. Little supportive price action exists as bulls continue to disappear and fade away. Doge continues to drift lower as bears maintain a relentless assault against the bulls.

Read more

Fed Preview: Three ways in which Powell could down the dollar, and none is the dot-plot

No taper now, but when? That is the main question investors have for the Federal Reserve in its all-important September meeting. The bank buys $120 billion worth of bonds every month and it is set to reduce the pace at some point.

Read more

Forex MAJORS

Cryptocurrencies

Signatures