- 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
|Today last price||74.882|
|Today Daily Change||-0.1064|
|Today Daily Change %||-0.14%|
|Today daily open||74.9884|
|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|
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