USD/INR Price Analysis: Bounces off multi-week low, keeps the red below 83.00


  • USD/INR drops to a multi-week low on Friday, though lacks follow-through selling.
  • Oscillators on the daily chart have just started drifting lower and now favour bears. 
  • Any subsequent fall could attract buyers near the 100-day/200-day SMAs confluence.

The USD/INR pair comes under some renewed selling pressure on Friday and touches a nearly three-week low, around the 82.80-82.75 region during the Asian session. Spot prices, however, manage to trim a part of the intraday losses and currently trade just below the 83.00 round figure, still down over 0.20% for the day.

Technical indicators on the daily chart, meanwhile, have just started drifting in the negative territory and support prospects for some meaningful depreciating move. That said, any subsequent decline below the daily trough is likely to find decent support near the 100-day Simple Moving Average (SMA), currently pegged near the 82.45 region. This is closely followed by the 200-day SMA, around the 82.35 zone, which should now act as a key pivotal point for the USD/INR pair.

The latter near the August 24 low, which if broken decisive will be seen as a fresh trigger for bearish traders and prompt aggressive technical selling. Spot prices might then turn vulnerable to accelerate the slide towards the 82.00 mark. The downward trajectory could get extended and eventually drag the USD/INR pair to the July swing low, around the 81.70-81.65 region.

On the flip side, movement above the 83.00-83.05 immediate hurdle now seems to confront resistance near the 82.30 zone ahead of the all-time peak, around the 83.40-83.45 region touched on August 15. A sustained strength beyond will be seen as a fresh trigger for bullish traders and allow the USD/INR pair to conquer the 84.00 round-figure mark.

USD/INR daily chart

fxsoriginal

Technical levels to watch

USD/INR

Overview
Today last price 82.9572
Today Daily Change -0.1662
Today Daily Change % -0.20
Today daily open 83.1234
 
Trends
Daily SMA20 82.9648
Daily SMA50 82.7428
Daily SMA100 82.5198
Daily SMA200 82.3593
 
Levels
Previous Daily High 83.2397
Previous Daily Low 82.925
Previous Weekly High 83.2896
Previous Weekly Low 82.5035
Previous Monthly High 83.5505
Previous Monthly Low 82.224
Daily Fibonacci 38.2% 83.1195
Daily Fibonacci 61.8% 83.0452
Daily Pivot Point S1 82.9523
Daily Pivot Point S2 82.7813
Daily Pivot Point S3 82.6376
Daily Pivot Point R1 83.267
Daily Pivot Point R2 83.4107
Daily Pivot Point R3 83.5817

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD gains ground above 0.6300 ahead of Chinese data

AUD/USD gains ground above 0.6300 ahead of Chinese data

The AUD/USD pair gathers strength to near 0.6325 during the early Asian session on Monday. The uptick of the pair is bolstered by the weaker US Dollar and special plans from the Chinese government to boost consumption and raise incomes. 

AUD/USD News
EUR/USD: A move to 1.1000 re-emerges on the horizon

EUR/USD: A move to 1.1000 re-emerges on the horizon

EUR/USD enjoyed a broadly upbeat run last week, extending its strong recovery and briefly surpassing the 1.0900 handle to reach multi-month highs. Although the rally lost some momentum as the week wore on, the pair still ended with a solid performance on the weekly chart.

EUR/USD News
Gold: Bulls act on return of risk-aversion, lift XAU/USD to new record-high

Gold: Bulls act on return of risk-aversion, lift XAU/USD to new record-high

Gold capitalized on safe-haven flows and set a new record high above $3,000. The Fed’s policy announcements and the revised dot plot could influence Gold’s valuation. The near-term technical outlook suggests that the bullish bias remains intact.

Gold News
Week ahead: Central banks in focus amid trade war turmoil

Week ahead: Central banks in focus amid trade war turmoil

Fed decides on policy amid recession fears.Yen traders lock gaze on BoJ for hike signals. SNB seen cutting interest rates by another 25bps. BoE to stand pat after February’s dovish cut.

Read more
Week ahead – Central banks in focus amid trade war turmoil

Week ahead – Central banks in focus amid trade war turmoil

Fed decides on policy amid recession fears. Yen traders lock gaze on BoJ for hike signals. SNB seen cutting interest rates by another 25bps. BoE to stand pat after February’s dovish cut.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025