fxs_header_sponsor_anchor

News

USD/INR Technical Analysis: Eyes support of 7-month-long rising trendline

  • The USD/INR is currently trading at 71.97, having clocked a 7.5-week low of 71.79 earlier today.
  • The daily chart is flashing bearish lower highs and lower lows pattern in the last four weeks.
  • The 5- and 10-day EMAs are trending south, indicating a bearish setup. Also, the 5-day and 50-day EMAs have produced a bearish crossover.
  • The 14-day relative strength index (RSI) of 40.00 is biased toward the bears.
  • Hence, the pair could test the support of the trendline connecting the April 10 and Aug. 9 lows, currently at 71.34, in the next few days.
  • A daily close above the 10-day EMA would abort the bearish view and may yield consolidation.

Daily Chart

Trend: Bearish

USD/INR

Overview:
    Last Price: 72.14
    Daily change: -1.7e+3 pips
    Daily change: -0.235%
    Daily Open: 72.31
Trends:
    Daily SMA20: 73.1548
    Daily SMA50: 72.9877
    Daily SMA100: 71.1122
    Daily SMA200: 68.6145
Levels:
    Daily High: 72.88
    Daily Low: 72.31
    Weekly High: 73.154
    Weekly Low: 72.34
    Monthly High: 74.504
    Monthly Low: 72.525
    Daily Fibonacci 38.2%: 72.5277
    Daily Fibonacci 61.8%: 72.6623
    Daily Pivot Point S1: 72.12
    Daily Pivot Point S2: 71.93
    Daily Pivot Point S3: 71.55
    Daily Pivot Point R1: 72.69
    Daily Pivot Point R2: 73.07
    Daily Pivot Point R3: 73.26

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.