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USD/INR Technical Analysis: Greenback trading below 72.00 handle against the Indian rupee

USD/INR is trading off the daily lows in the New York session.
The level to beat for bears is the 71.60 level.

Flavio Tosti Independent Analyst

USD/INR daily chart

USD/INR is trading in a bull trend above its main daily simple moving averages (DMAs). However, the market also created some sort of double top near the 72.25 level.

USD/INR four-hour chart

The market is challenging 71.60 support and the 50 SMA. If the market bounces from here, the spot can revisit the 72.00 handle and possibly the 72.25 resistance if the bulls gather enough steam.

On the flip side, a break below 71.60 can see the market decline and trade towards the 71.20 level.

Additional key levels

USD/INR

Overview
Today last price	71.699
Today Daily Change	-0.2466
Today Daily Change %	-0.34
Today daily open	71.9456

Trends
Daily SMA20	71.1874
Daily SMA50	71.1578
Daily SMA100	70.6892
Daily SMA200	70.2067

Levels
Previous Daily High	71.958
Previous Daily Low	71.5715
Previous Weekly High	72.37
Previous Weekly Low	70.97
Previous Monthly High	71.79
Previous Monthly Low	70.6425
Daily Fibonacci 38.2%	71.8104
Daily Fibonacci 61.8%	71.7192
Daily Pivot Point S1	71.692
Daily Pivot Point S2	71.4385
Daily Pivot Point S3	71.3055
Daily Pivot Point R1	72.0786
Daily Pivot Point R2	72.2116
Daily Pivot Point R3	72.4651

Author

Flavio Tosti

Independent Analyst

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