USD/INR Price Analysis: Indian rupee vulnerable while above 74.40

USD/INR is close to end the week with modest gains.
Chart is biased to the upside, with dollar’s momentum fading.
Break under 74.40 to strengthen the Indian rupee .
The USD/INR is rising on Friday because it continues to rebound after approaching a critical support around 74.40/50. The mentioned area contains a horizon level, the 20-day simple moving average and a short-term uptrend line. the typical is beginning to flatten showing fading momentum for the US dollar.
A break under 74.40 would turn the short-term outlook to negative, leaving it susceptible to more losses. The target is seen at 74.10. the world between 74.00 and 74.10 may be a strong support band that ought to limit the decline initially, favoring a rebound.
On the upside, an in depth above 74.69 should clear the way for a replacement test of USD/INR to the 74.90 barrier. That area may be a key resistance that protects 75.00. Above subsequent resistance level could be seen at 75.40 and 75.65 (April high).
USD/INR daily chart
Today last price 74.6145
Today Daily Change 0.0810
Today Daily Change % 0.11
Today daily open 74.5335
Daily SMA20 74.414
Daily SMA50 73.6414
Daily SMA100 73.6456
Daily SMA200 73.563
Previous Daily High 74.5613
Previous Daily Low 74.45
Previous Weekly High 74.9115
Previous Weekly Low 74.2544
Previous Monthly High 74.5135
Previous Monthly Low 72.4854
Daily Fibonacci 38.2% 74.5188
Daily Fibonacci 61.8% 74.4925
Daily Pivot Point S1 74.4686
Daily Pivot Point S2 74.4036
Daily Pivot Point S3 74.3573
Daily Pivot Point R1 74.5799
Daily Pivot Point R2 74.6262
Daily Pivot Point R3 74.6912


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