- 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
additional important levels
|Today last price||70.721|
|Today Daily Change||-0.1355|
|Today Daily Change %||-0.19%|
|Today daily open||70.8565|
|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|
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.