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


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

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD stabilizing as US coronavirus cases continue to climb

EUR/USD is trading around 1.1250, pressured amid concerns about the spread of coronavirus in the US. Traders are digesting the upbeat Non-Farm Payrolls figures already out ahead of the long US weekend. 


GBP/USD attempting a bounce amid thin liquidity

GBP/USD is closer to 1.25, off the lows. Top-level EU-UK Brexit talks have been postponed until next week amid disagreements. The UK is continuing to reopen while US coronavirus cases are surging. 


Bitcoin must endorse the time of Ethereum has come

The crypto market remains in a choke point, and after signs of a possible upward shift yesterday, the market was once again disappointed to see Bitcoin in the low range of the $8900 to $9000 choke point.

Read more

Gold: There is a bearish signal on the 4-hour chart

Price action has been slow on Friday due to the bank holiday in the US as the nation celebrates independence day. This week has been an interesting one as there has been some good economic data but some very bad coronavirus news in the US. 

Gold News

S&P 500: Futures struggle to refresh two-week top

S&P 500 Futures prints mild loss of 0.10% while declining to 3,126 during the initial hour of Tokyo session on Friday. In doing so, the risk barometer fails to extend the previous four-day winning streak.

Read more