USD/INR technical analysis: 69.30 becomes the level to beat for buyers


  • 50-DMA, 9-week old descending trend-line questions the USD/INR pair’s latest recovery.
  • 68.25/30 continues to be the key support.

The USD/INR pair’s recovery from multi-month lows struggles to find the traction as it trades beneath crucial resistance-confluence,  near 69.00, heading into Europe open on Monday.

The 50-day moving average (50-DMA) and more than 2-month old descending trend-line question the buyers around 69.30 with gradually rising 14-day relative strength index (RSI).

Should prices rise past-69.30, 23.6% Fibonacci retracement of October 2018 to July 2019 downpour around 69.85 and 70.00 round-figure could flash on bulls’ screen.

Alternatively, 68.60 and 68.25/30 holds the key to the pair’s fresh south-run towards sub-68.00 area.

USD/INR daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 68.9575
Today Daily Change 0.0170
Today Daily Change % 0.02%
Today daily open 68.9405
 
Trends
Daily SMA20 68.7809
Daily SMA50 69.3214
Daily SMA100 69.3887
Daily SMA200 70.3946
Levels
Previous Daily High 68.9475
Previous Daily Low 68.6069
Previous Weekly High 69.05
Previous Weekly Low 68.3975
Previous Monthly High 70.1225
Previous Monthly Low 68.8755
Daily Fibonacci 38.2% 68.8174
Daily Fibonacci 61.8% 68.737
Daily Pivot Point S1 68.7158
Daily Pivot Point S2 68.491
Daily Pivot Point S3 68.3752
Daily Pivot Point R1 69.0564
Daily Pivot Point R2 69.1722
Daily Pivot Point R3 69.397

 

 

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