USD/INR technical analysis: Struggles between 50, 100-day SMA


  • USD/INR witnesses pullback from 38.2% Fibonacci retracement.
  • 50% Fibonacci retracement, 70.36/35 add to support.

Following its trading range between the key moving averages, USD/INR declines to 70.72 while heading into the European session on Tuesday.

The quote recently took a U-turn from 38.2% Fibonacci retracement of July-September upside, at 70.96, indicating another visit to 100-day Simple Moving Average (SMA) level of 70.47. Also increasing the strength of the support is 50% Fibonacci retracement.

It should, however, be noted that pair’s declines below 70.47 will aim for 70.36/35 support-zone including lows marked since early August.

During pair’s extended weakness below 70.35, 61.8% Fibonacci retracement level of 69.92 and late-July highs close to 69.36 will become sellers’ favourites.

Meanwhile, pair’s sustained rise past-50-day SMA level of 71.20, can target October high surrounding 71.80 whereas 72.30 and 72.65 could please bulls afterward.

USD/INR daily chart

Trend: sideways

additional important levels

Overview
Today last price 70.721
Today Daily Change -0.1355
Today Daily Change % -0.19%
Today daily open 70.8565
 
Trends
Daily SMA20 71.0006
Daily SMA50 71.2158
Daily SMA100 70.4638
Daily SMA200 70.1961
 
Levels
Previous Daily High 71.125
Previous Daily Low 70.4975
Previous Weekly High 71.2825
Previous Weekly Low 70.5329
Previous Monthly High 71.79
Previous Monthly Low 70.6425
Daily Fibonacci 38.2% 70.8853
Daily Fibonacci 61.8% 70.7372
Daily Pivot Point S1 70.5277
Daily Pivot Point S2 70.1988
Daily Pivot Point S3 69.9002
Daily Pivot Point R1 71.1552
Daily Pivot Point R2 71.4538
Daily Pivot Point R3 71.7827

 

 

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