- 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|
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