USD/INR technical analysis: 50-day SMA, two-month-old trendline exert downside pressure

  • USD/INR stays inside a short-term symmetrical triangle.
  • 70.35, 200-day SMA and 70.00 keep sellers in check.

Following its failure to remain strong around nine-day high, mainly due to 50-day SMA, USD/INR declines to 70.97 by the press time of early Friday.

Prices are not trading southwards to a five-week-old rising trend line, at 70.70. However, pair’s further downpour will be disturbed by multiple lows marked since early August around 70.35, 200-day Simple Moving Average (SMA) level of 70.20 and 70.00 round-figure.

In a case where sellers keep the reins below 70.00, late-June high nearing 69.80 and July month top close to 69.35 will become their favorites.

On the upside, pair’s rise beyond 50-day SMA level of 71.25 could trigger fresh run-up to two-month-old falling resistance line, at 71.46, a break of which could push buyers towards October month high near 71.80.

During the pair’s extended run-up beyond 71.80, 72.40 and September month high surrounding 72.65 will be the key to watch.

USD/INR daily chart

Trend: sideways

additional important levels

Today last price 70.9725
Today Daily Change -0.1060
Today Daily Change % -0.15%
Today daily open 71.0785
Daily SMA20 71.0267
Daily SMA50 71.2606
Daily SMA100 70.4471
Daily SMA200 70.1994
Previous Daily High 71.2005
Previous Daily Low 70.6925
Previous Weekly High 71.376
Previous Weekly Low 70.7052
Previous Monthly High 71.79
Previous Monthly Low 70.6425
Daily Fibonacci 38.2% 71.0064
Daily Fibonacci 61.8% 70.8866
Daily Pivot Point S1 70.7805
Daily Pivot Point S2 70.4825
Daily Pivot Point S3 70.2725
Daily Pivot Point R1 71.2885
Daily Pivot Point R2 71.4985
Daily Pivot Point R3 71.7965



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