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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

USD/JPY keeps loses below 107.50 amid upbeat Japan data dump, risk-off

USD/JPY keeps the red below 107.50, as the yen remains well bid amid US-China tensions and upbeat Japanese data dump. The Asian stocks and S&P 500 futures flash red. Focus shifts to the US data and President Trump's response to the Hong Kong issue. 

USD/JPY News

AUD/USD: Choppy within range below 0.6650 amid US-China risks

AUD/USD remains depressed around 0.6640 so far this Friday. Risk-tone remains heavy as global equities are weighed down by escalating US-China tensions over the Hong Kong security issue, with all eyes now on Trump's presser. 

AUD/USD News

Eurozone Inflation Preview: A sub-zero rate may be insufficient to down the euro

Preliminary eurozone CPI data for May will likely show depressed inflation. Without shocking figures, the EUR/USD has room to rise, in the opinion of FXStreet’s analyst Yohay Elam.Key quotes: “Petrol will likely put pressure on CPI."

Read more

Gold picks up a bid amid losses in the US stock futures

Gold, a traditional safe-haven asset, is drawing bids as the US stock futures are signaling risk aversion. China imposed the controversial national security bill on Hong Kong on Thursday. Markets fear the US would retaliate with sanctions on China.

Gold News

WTI eyes record monthly surge

While West Texas Intermediate (WTI) crude's front-month contract has backed off from the 2.5-month highs reached earlier this week due to deteriorating US-China tensions, it is still on track to post its biggest monthly gain on record. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures