USD/INR Technical Analysis: Bullish while above 71.50, looking at 72.00

The US Dollar broke the key 71.50 area, strengthening the bullish bias. It peaked at 71.91, before pulling back modestly to 71.72. It is about to post the highest close since December 28.
The positive tone will remain intact as long as USD/INR holds above 71.50. A test of the 72.00 area seems likely, and a break higher would target 72.25.
A firm slide back below 71.50 would put the recent range (71.50 - 70.85) back in play.

Matías Salord FXStreet

USD/INR Daily chart

USD/INR

Overview:
    Today Last Price: 71.7
    Today Daily change: 0.2250 pips
    Today Daily change %: 0.31%
    Today Daily Open: 71.475
Trends:
    Daily SMA20: 70.8916
    Daily SMA50: 70.7085
    Daily SMA100: 71.7996
    Daily SMA200: 70.2777
Levels:
    Previous Daily High: 71.615
    Previous Daily Low: 70.915
    Previous Weekly High: 71.64
    Previous Weekly Low: 70.82
    Previous Monthly High: 71.64
    Previous Monthly Low: 69.185
    Daily Fibonacci 38.2%: 71.3476
    Daily Fibonacci 61.8%: 71.1824
    Daily Pivot Point S1: 71.055
    Daily Pivot Point S2: 70.635
    Daily Pivot Point S3: 70.355
    Daily Pivot Point R1: 71.755
    Daily Pivot Point R2: 72.035
    Daily Pivot Point R3: 72.455

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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