USD/INR Technical Analysis: Consolidating in a narrowing price range below 69.00

USD/INR is currently trading at 68.815 – down 0.15 percent on the day – having registered a 0.35 percent on Monday. 

As seen in the 4-hour chart, the pair is creating a narrowing price range of symmetrical triangle-like pattern on the 4-hour chart. As of writing, the upper edge of the triangle is seen at 69.16 and the lower edge is located at 68.66. 

A break below 68.66 would confirm triangle breakdown and allow a re-test of the recent low of 68.34. The RSI on the 4-hour chart has fallen back into bearish territory below 50.00 and will breach the ascending trendline if the spot suffers range breakdown. 

The corrective bounce, however, may gather pace if the upper edge of the flag is breached.

4-hour chart

Trend: Bearish below 68.66

USD/INR

Overview
Today last price 68.836
Today Daily Change -0.0765
Today Daily Change % -0.11
Today daily open 68.9125
 
Trends
Daily SMA20 69.8108
Daily SMA50 70.6194
Daily SMA100 70.7791
Daily SMA200 70.8089
 
Levels
Previous Daily High 69.2435
Previous Daily Low 68.7905
Previous Weekly High 69.3275
Previous Weekly Low 68.3415
Previous Monthly High 71.915
Previous Monthly Low 70.105
Daily Fibonacci 38.2% 68.9635
Daily Fibonacci 61.8% 69.0705
Daily Pivot Point S1 68.7208
Daily Pivot Point S2 68.5292
Daily Pivot Point S3 68.2678
Daily Pivot Point R1 69.1738
Daily Pivot Point R2 69.4352
Daily Pivot Point R3 69.6268

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD steady around 1.1240 in ultra-thin holiday's trading

The EUR/USD pair bounced some 20 pips from its weekly low during the Asian session, now mute around 1.1240 with most market's off today. Softer-than-expected US housing data passed unnoticed.

EUR/USD News

GBP/USD battling around 1.3000

The GBP/USD pair is heading nowhere fast after bottoming for the week at 1.2978, amid lack of progress in Brexit negotiations.  Encouraging UK data failed to trigger Pound's demand.

GBP/USD News

USD/JPY: On track to close in the middle of its 50-pip weekly range below 112

The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday.

USD/JPY News

The Tale of the Prosperous Consumer-US Retail Sales

American consumers asserted the right to spend in a grand fashion in March boosting retail sales to the fastest expansion in 18 months as the booming job market put the shutdown marked holiday season to rest.

Read more

Gold Forecast: Eyes 8-month rising trendline after weakest weekly close since December

The troy ounce of the precious metal lost around $17 this week and now looks to record its lowest weekly close since the end of December near $1275.

Gold News

Majors

Cryptocurrencies

Signatures