- 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
|Today last price||68.9575|
|Today Daily Change||0.0170|
|Today Daily Change %||0.02%|
|Today daily open||68.9405|
|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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