USD/INR Price News: Trades below 100-day SMA, Indian Rupee eyes weekly gain


  • USD/INR looks to establish a foothold under the key average. 
  • Technical indicators are aligned in favor of the bears. 

The USD/INR pair is currently sidelined below the 100-day Simple Moving Average (SMA) at 74.14, having closed below that technical level for the second straight day on Thursday. 

The long upper wick attached to Thursday's candle indicates a sell-on-the-rise mentality. It validates the bearish view put forward by the 14-day Relative Strength Index's ascending trendline breakdown and the MACD histogram's crossover into the negative territory. 

As such, the support of the Nov. 9 low of 73.679 stands exposed. The pair needs to close above Thursday's high of 74.338 to invalidate the bearish view. 

At press time, the pair is trading near 74.10, representing a 0.62% loss for the week, having risen by 0.8% last week. 

Daily chart

Trend: Bearish

Technical levels

USD/INR

Overview
Today last price 74.1266
Today Daily Change 0.0160
Today Daily Change % 0.02
Today daily open 74.1106
 
Trends
Daily SMA20 74.2492
Daily SMA50 73.7889
Daily SMA100 74.1592
Daily SMA200 74.6339
 
Levels
Previous Daily High 74.3274
Previous Daily Low 74.0856
Previous Weekly High 74.795
Previous Weekly Low 73.6492
Previous Monthly High 74.693
Previous Monthly Low 72.9572
Daily Fibonacci 38.2% 74.178
Daily Fibonacci 61.8% 74.235
Daily Pivot Point S1 74.0216
Daily Pivot Point S2 73.9326
Daily Pivot Point S3 73.7797
Daily Pivot Point R1 74.2635
Daily Pivot Point R2 74.4164
Daily Pivot Point R3 74.5054

 

 

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