USD/INR Price Analysis: Bulls await sustained strength and acceptance above 83.00 mark


  • USD/INR edges higher on Thursday, albeit remains confined in a three-day-old trading band.
  • The constructive technical setup favours bullish traders and supports prospects for further gains.
  • A convincing break below the 100/200-day SMAs confluence will negate the positive outlook.

The USD/INR pair trades with a positive bias during the Asian session on Thursday, though remains below the 83.00 mark and well within a familiar trading range held over the past three days.

From a technical perspective, spot prices are holding comfortably above technically significant 100-day and 200-day Simple Moving Averages (SMAs). Moreover, positive oscillators on the daily chart – though have been losing traction – favour bullish traders and suggest that the path of least resistance for the USD/INR pair is to the upside.

That said, it will still be prudent to wait for sustained strength and acceptance above the 83.00 round figure before positioning for any further move up. The USD/INR pair might then climb back towards last week's swing high, around the 83.20-83.25 region, and then aim to challenge the record high, around the 83.45 region touched in August.

A sustained strength beyond the 83.00 mark will reaffirm the constructive setup and lift the pair back towards last week's swing high, around the 83.20-83.25 region. This is followed by the 83.45 region, or the record high touched in August, which if cleared decisively will be seen as a fresh trigger for bulls and pave the way for additional gains.

On the flip side, weakness below the 82.80 area, or the weekly low, might continue to attract some dip-buying and remain limited near the 82.40-82.30 confluence, comprising the 100-day and the 200-day SMAs. The latter should act as a pivotal point, which if broken will make the USD/INR pair vulnerable to accelerate the slide towards the 82.00 mark.

Some follow-through selling below the July monthly swing low, around the 81.70-81.65 region, will suggest that spot prices have formed a near-term top and pave the way for a deeper corrective decline. The USD/INR pair might then weaken further towards the 81.35 intermediate support before eventually dropping towards testing sub-81.00 levels.

USD/INR daily chart

Technical levels to watch

USD/INR

Overview
Today last price 82.9424
Today Daily Change -0.0562
Today Daily Change % -0.07
Today daily open 82.9986
 
Trends
Daily SMA20 82.9001
Daily SMA50 82.6534
Daily SMA100 82.4361
Daily SMA200 82.3408
 
Levels
Previous Daily High 83.1171
Previous Daily Low 81.5345
Previous Weekly High 83.3714
Previous Weekly Low 82.585
Previous Monthly High 83.5505
Previous Monthly Low 82.224
Daily Fibonacci 38.2% 82.5125
Daily Fibonacci 61.8% 82.139
Daily Pivot Point S1 81.983
Daily Pivot Point S2 80.9675
Daily Pivot Point S3 80.4005
Daily Pivot Point R1 83.5656
Daily Pivot Point R2 84.1326
Daily Pivot Point R3 85.1481

 

 

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

NZD/USD turns positive above 0.5700 after RBNZ Orr's presser

NZD/USD turns positive above 0.5700 after RBNZ Orr's presser

NZD/USD returns to the green above 0.5700 early Wednesday. The RBNZ's expected 50 bps interest rate cut to 3.75% in February and signals on future rate cuts weighed on the Kiwi before the pair rebounded on Governor Orr's press conference. 

NZD/USD News
AUD/USD keeps range near 0.6350, Fed Minutes eyed

AUD/USD keeps range near 0.6350, Fed Minutes eyed

AUD/USD trades in a range around mid-0.6300s early Wednesday. The cautious market mood, the RBNZ dovish rate cut and Trump's tariff threat-led US Dollar upside remain a drag on the Aussie. Focus shifts to the Fed Minutes amid trade war fears. 

AUD/USD News
Gold price remains close to record high near $2,940 amid trade tensions

Gold price remains close to record high near $2,940 amid trade tensions

Gold price treads water near $2,940 in the Asian session on Wednesday, remaining near the record high as worries that Trump's reciprocal tariffs could trigger a global trade war continue to act as a tailwind for the safe-haven bullion. Fed Minutes is next on tap. 

Gold News
Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin continued its downward trend on Tuesday as K33 Research's weekly report indicated growing declines in BTC CME premium and yields. Meanwhile, Strategy announced plans to issue $2 billion worth of senior convertible notes.

Read more
Rates down under

Rates down under

Today all Australian eyes were on the Reserve Bank of Australia, and rates were cut as expected. RBA Michele Bullock said higher interest rates had been working as expected, slowing economic activity and curbing inflation, but warned that Tuesday’s first rate cut since 2020 was not the start of a series of reductions.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025