- USD/INR seesaws around intraday low after refreshing multi-day top.
- 12-day-old ascending trend line, firmer RSI keeps buyers hopeful.
- Multiple hurdles on the south for the bears to tackle for entry, double-top around 75.65 in focus.
USD/INR retreats to 75.21, following an uptick to refresh the three-week high. In doing so, the Indian rupee (INR) pair buyers take a breather around multi-day top during the run-up to the key 75.65 hurdle.
Immediately favoring the odds of upside is an ascending support line from November 18, near 74.90, as well as a firmer RSI line, not overbought.
Even if the quote drops below 74.90, a three-month-long rising trend line and the 200-DMA, respectively around 74.22 and 74.00, will be crucial to watch as they hold the key to further weakness towards an upward sloping support line from May, near 73.45.
During the quote’s further advances, the latest swing high of 75.47 and the stated double-top near 75.65 will be important to watch.
Should USD/INR bulls keep reins past 75.65, April 2020 peak near 77.00 will gain the market’s attention ahead of the theoretical target surrounding 78.00.
To sum up, USD/INR is ready for further upside but 75.65 is the key to watch.
USD/INR: Daily chart
Trend: Further upside expected
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
Editors’ Picks
EUR/USD bounces off 1.1300, Dollar turns red
After bottoming out near the 1.1300 region, EUR/USD now regains upside traction and advances to the 1.1370 area on the back of the ongoing knee-jerk in the US Dollar. Meanwhile, market participants continue to closely follow news surrounding the US-China trade war.
GBP/USD regains pace, retargets 1.3200
The now offered stance in the Greenback lends extra support to GBP/USD and sends the pair back to the vicinity of the 1.3200 hurdle, or multi-day highs, amid a generalised better tone in the risk-linked universe on Monday.
Gold trades with marked losses near $2,200
Gold seems to have met some daily contention around the $3,200 zone on Monday, coming under renewed downside pressure after hitting record highs near $3,250 earlier in the day, always amid alleviated trade concerns. Declining US yields, in the meantime, should keep the downside contained somehow.
Six Fundamentals for the Week: Tariffs, US Retail Sales and ECB stand out Premium
"Nobody is off the hook" – these words by US President Donald Trump keep markets focused on tariff policy. However, some hard data and the European Central Bank (ECB) decision will also keep things busy ahead of Good Friday.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
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.