USD/INR technical analysis: On the back foot below 21-day SMA amid bearish MACD


  • 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

Trend: bearish

USD/INR

Overview
Today last price 70.805
Today Daily Change -0.0350
Today Daily Change % -0.05%
Today daily open 70.84
 
Trends
Daily SMA20 71.047
Daily SMA50 71.3194
Daily SMA100 70.3928
Daily SMA200 70.2042
 
Levels
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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.

GBP/USD News

EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/USD dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 

EUR/USD News

Cryptos: Market ready to launch, not knowing who will lead it

The market hesitates between Bitcoin and Ethereum to lead the next bullish run. Ethereum will suffer heavy losses if not in command. Bullish clarity may call for terminal motivation bearish jerks.

Read more

Gold bulls hold in there on geopolitical and trade risks, despite robust USD

Gold prices were under pressure at the start of the week as the US dollar seeks correction of the latest slide following a very healthy headline accumulative number in US jobs creation which included strong revisions.

Gold News

USD/JPY: Bears losing their grip as market attempts to bottom

USD/JPY is trading on the bid in the US session following a rise from 108.42 the low to a high of 108.66.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures