- USD/INR stays below immediate moving average resistance.
- Lows marked since August 08, 200-day SMA seem key supports.
- A falling trendline since early September adds to the resistance.
Sustained weakness below immediate key Simple Moving Average (SMA) keeps USD/INR sellers on the cards as the pair seesaws near 70.81 by the press time of pre-European session opening on Monday.
With the bearish signals from 12-bar Moving Average Convergence and Divergence (MACD) adding strength to downside sentiment, prices can revisit 50% Fibonacci retracement of July-September rise, at 70.44, prior revisiting 70.36/35 area that includes lows marked since August 08 and 200-day SMA level of 70.20.
During the pair’s additional weakness below 70.20, the 70.00 round-figure will be the key to watch as a failure to hold it can recall 69.40 on the chart.
Meanwhile, an upside clearance of a 21-day SMA level of 71.05 needs to be validated by the short-term falling trend line, at 71.40.
Should there be a successful rise above 71.40, monthly high near to 71.80 may have lesser chances to stay as a strong resistance.
USD/INR daily chart
|Today last price||70.805|
|Today Daily Change||-0.0350|
|Today Daily Change %||-0.05%|
|Today daily open||70.84|
|Previous Daily High||71.21|
|Previous Daily Low||70.744|
|Previous Weekly High||71.376|
|Previous Weekly Low||70.7052|
|Previous Monthly High||72.6325|
|Previous Monthly Low||70.3685|
|Daily Fibonacci 38.2%||70.922|
|Daily Fibonacci 61.8%||71.032|
|Daily Pivot Point S1||70.6527|
|Daily Pivot Point S2||70.4653|
|Daily Pivot Point S3||70.1867|
|Daily Pivot Point R1||71.1187|
|Daily Pivot Point R2||71.3973|
|Daily Pivot Point R3||71.5847|
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.