USD/INR technical analysis: 100/200-day SMAs question bearish engulfing on daily chart


  • USD/INR portrays a bearish technical pattern on the daily (D1) chart.
  • 100-day SMA, 70.35 and 200-day SMA seem key supports.
  • Two-month-old falling trend line limits near-term upside.

Despite flashing a bearish candlestick formation on the daily chart, the USD/INR pair has a long to please bears as it takes the rounds to 70.66 while heading to Monday’s European session.

Among them, a 100-day Simple Moving Average (SMA) level of 70.46 becomes the first one to challenge sellers, a break of which will confront 70.37/36 support zone including multiple lows since early August and 200-day SMA level of 70.20.

Even so, bears will find it hard to rule as 70.00 round-figure stays talk as strong support holding the key to late-July high surrounding 70.35.

On the upside, pair’s run-up beyond a two-month-old falling resistance line, at 71.41 could recall buyers targeting 72.00 and late-September highs near 72.45.

However, odds supporting the pair’s intermediate pullbacks to 71.20 can’t be denied.

USD/INR daily chart

Trend: bearish

additional important levels

Overview
Today last price 70.652
Today Daily Change 0.1190
Today Daily Change % 0.17%
Today daily open 70.533
 
Trends
Daily SMA20 71.0121
Daily SMA50 71.2347
Daily SMA100 70.4536
Daily SMA200 70.1972
 
Levels
Previous Daily High 71.2825
Previous Daily Low 70.5329
Previous Weekly High 71.2825
Previous Weekly Low 70.5329
Previous Monthly High 71.79
Previous Monthly Low 70.6425
Daily Fibonacci 38.2% 70.8192
Daily Fibonacci 61.8% 70.9962
Daily Pivot Point S1 70.2831
Daily Pivot Point S2 70.0332
Daily Pivot Point S3 69.5335
Daily Pivot Point R1 71.0327
Daily Pivot Point R2 71.5324
Daily Pivot Point R3 71.7823

 

 

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