USD/INR Price News: Indian rupee picks up bids above 73.00, jostles with nearby hurdles

USD/INR fades bounce off two-month low, refreshes intraday bottom.
Bearish MACD, failures to cross immediate resistances favor sellers.
100-day SMA adds to the upside barriers, 72.80 lures bears.
USD/INR takes offers around 73.15, down 0.11% intraday, amid the initial Indian trading session on Thursday. In doing so, the quote rejects the previous day piercing off a downward sloping line from April 21, to not forget staying below 100-day SMA.

Given the bearish MACD and therefore the pair’s failures to cross the key resistances, USD/INR stays on the seller’s radar with the 73.00 actings as immediate support to observe during the further weakness.

It should, however, be noted that multiple tops marked during March, around 72.80, could probe the pair’s downside before directing USD/INR bears to toward a three-month-old support line near 72.55.

Meanwhile, clear trading beyond the 100-day SMA level of 73.33 may recall 73.70 and therefore the 74.00 round figure on the chart.

Though, February’s high near 74.18 and mid-April low on the brink of 74.30 are going to be tough resistances to interrupt for USD/INR bulls past 74.00.

Overall, USD/INR remains on the bearish trajectory.

USD/INR daily chart

Trend: Bearish

Today last price 73.1536
Today Daily Change -0.0826
Today Daily Change % -0.11%
Today daily open 73.2362

Daily SMA20 73.8554
Daily SMA50 73.684
Daily SMA100 73.3328
Daily SMA200 73.5759

Previous Daily High 73.2572
Previous Daily Low 72.935
Previous Weekly High 73.7151
Previous Weekly Low 73.195
Previous Monthly High 75.6321
Previous Monthly Low 73.1696
Daily Fibonacci 38.2% 73.1341
Daily Fibonacci 61.8% 73.0581
Daily Pivot Point S1 73.0284
Daily Pivot Point S2 72.8206
Daily Pivot Point S3 72.7062
Daily Pivot Point R1 73.3506
Daily Pivot Point R2 73.465
Daily Pivot Point R3 73.6728

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 will not in any way encounter as a recommendation to shop for or sell in these assets. you ought to do your own thorough research before making any investment decisions. FXStreet doesn’t in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also doesn’t guarantee that this information is of a timely nature. Investing in Open Markets involves an excellent deal of risk, including the loss of all or some of your investment, also as emotional distress. All risks, losses, and costs related to investing, including total loss of principal, are your responsibility. The views and opinions expressed during this article are those of the authors and don’t necessarily reflect the official policy or position of FXStreet nor its advertisers.


Read Previous

GBP/USD waits for a green light from the Fed to rally

Read Next

US Dollar Index loses some ground just above 90.00

Leave a Reply

Your email address will not be published. Required fields are marked *