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.

Anil Panchal FXStreet

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

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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