USD/INR price analysis: Greenback losing strength against Indian Rupee, challenges 71.00 handle

by

 

USD/INR daily chart

 
USD/INR is trading sideways above the 200-day simple moving averages (DMA) but below the 50/100 DMAs. The market broke below the 71.20 swing low, opening the doors for a potential move down to the 70.50 level. 
 

https://editorial.fxstreet.com/miscelaneous/daily-637115016421586328.png

USD/INR four-hour chart

 
The spot is trading below its main SMAs suggesting a bearish bias in the medium term. Resistances are seen at the 71.50 and 71.90 price levels. 
 

https://editorial.fxstreet.com/miscelaneous/240-637115016650654307.png

Additional key levels

USD/INR

Overview
Today last price71.041
Today Daily Change-0.2590
Today Daily Change %-0.36
Today daily open71.3

 

Trends
Daily SMA2071.6696
Daily SMA5071.2702
Daily SMA10071.1021
Daily SMA20070.2454

 

Levels
Previous Daily High71.4403
Previous Daily Low71.1925
Previous Weekly High71.98
Previous Weekly Low71.1775
Previous Monthly High72.37
Previous Monthly Low70.4975
Daily Fibonacci 38.2%71.3456
Daily Fibonacci 61.8%71.2871
Daily Pivot Point S171.1816
Daily Pivot Point S271.0632
Daily Pivot Point S370.9338
Daily Pivot Point R171.4293
Daily Pivot Point R271.5587
Daily Pivot Point R371.6771