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USD/INR Technical Analysis: Greenback trading below 72.00 handle against the Indian rupee

USD/INR Technical Analysis: Greenback trading below 72.00 handle against the Indian rupee

  • USD/INR is trading off the daily lows in the New York session. 
  • The level to beat for bears is the 71.60 level. 
 

USD/INR daily chart

 
USD/INR is trading in a bull trend above its main daily simple moving averages (DMAs). However, the market also created some sort of double top near the 72.25 level.
 

USD/INR four-hour chart

 
The market is challenging 71.60 support and the 50 SMA. If the market bounces from here, the spot can revisit the 72.00 handle and possibly the 72.25 resistance if the bulls gather enough steam.
 
On the flip side, a break below 71.60 can see the market decline and trade towards the 71.20 level. 
 

Additional key levels

USD/INR

Overview
Today last price 71.699
Today Daily Change -0.2466
Today Daily Change % -0.34
Today daily open 71.9456
 
Trends
Daily SMA20 71.1874
Daily SMA50 71.1578
Daily SMA100 70.6892
Daily SMA200 70.2067
 
Levels
Previous Daily High 71.958
Previous Daily Low 71.5715
Previous Weekly High 72.37
Previous Weekly Low 70.97
Previous Monthly High 71.79
Previous Monthly Low 70.6425
Daily Fibonacci 38.2% 71.8104
Daily Fibonacci 61.8% 71.7192
Daily Pivot Point S1 71.692
Daily Pivot Point S2 71.4385
Daily Pivot Point S3 71.3055
Daily Pivot Point R1 72.0786
Daily Pivot Point R2 72.2116
Daily Pivot Point R3 72.4651

 

 

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