USD/INR Price Analysis: Indian rupee looks south as per the weekly chart

Omkar Godbole FXStreet Contributor

USD/INR jumped 1.88% last week – the biggest single-week percentage gain since March 2020 – confirming an upside break of the trendline falling from April 2020 and June 2020 highs.

The breakout indicates the multi-month long bearish trend has ended, and the bulls have regained control. As such, the November high of 74.9140 stands exposed.

However, a pullback could precede a rally to November highs, as markets typically shake out weak bulls before chalking out a positive follow-through to a major breakout similar to the one seen on USD/INR's weekly chart.

Acceptance under 72.21 (last week's low) is needed to invalidate the bullish bias.

Weekly chart

Trend: Bullish

Technical levels

USD/INR

Overview
Today last price	73.5875
Today Daily Change	-0.0663
Today Daily Change %	-0.09
Today daily open	73.6538

Trends
Daily SMA20	72.7931
Daily SMA50	73.0652
Daily SMA100	73.4874
Daily SMA200	74.0656

Levels
Previous Daily High	74.1841
Previous Daily Low	72.9255
Previous Weekly High	74.1841
Previous Weekly Low	72.1719
Previous Monthly High	74.1841
Previous Monthly Low	72.1719
Daily Fibonacci 38.2%	73.7033
Daily Fibonacci 61.8%	73.4063
Daily Pivot Point S1	72.9915
Daily Pivot Point S2	72.3292
Daily Pivot Point S3	71.7329
Daily Pivot Point R1	74.2501
Daily Pivot Point R2	74.8464
Daily Pivot Point R3	75.5087

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD retreats below 1.1800 as EU-US trade relations sour

EUR/USD loses its traction and retreats below 1.1800 following the earlier climb. The data from Germany highlighted a modest improvement in business sentiment in February but failed to help the Euro as investors assess the US-EU trade relations following Trump's global tariff hike announcement.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.