USD/INR technical analysis: Greenback failed breakout above 71.90 against Indian rupee

USD/INR fails to break above the 71.90 resistance.
USD/INR is set to remain trapped in a tight range in the medium term.

Flavio Tosti Independent Analyst

USD/INR daily chart

USD/INR is trading in a bull trend above its main daily simple moving averages (DMAs). The market formed a bull flag in November and now the price is consolidating above the 71.20 swing low.

USD/INR four-hour chart

The break above the 71.90 resistance failed as the bears rejected the price quite strongly. The market seems to trapped in the 7120-71.90 range in the medium term.

Additional key levels

USD/INR

Overview
Today last price	71.502
Today Daily Change	-0.2840
Today Daily Change %	-0.40
Today daily open	71.786

Trends
Daily SMA20	71.6394
Daily SMA50	71.2426
Daily SMA100	71.0251
Daily SMA200	70.2405

Levels
Previous Daily High	71.826
Previous Daily Low	71.5275
Previous Weekly High	71.8815
Previous Weekly Low	71.2255
Previous Monthly High	72.37
Previous Monthly Low	70.4975
Daily Fibonacci 38.2%	71.712
Daily Fibonacci 61.8%	71.6415
Daily Pivot Point S1	71.6003
Daily Pivot Point S2	71.4147
Daily Pivot Point S3	71.3018
Daily Pivot Point R1	71.8988
Daily Pivot Point R2	72.0117
Daily Pivot Point R3	72.1973

Author

Flavio Tosti

Independent Analyst

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