USD/INR New York Price Forecast: Greenback looking for directions vs. rupee



USD/INR weekly chart

Following the 2018 bull-run, USD/INR has been consolidating in a rectangle pattern. The spot is trading above the main weekly simple moving averages (SMAs), suggesting a bullish bias in the long term.

USD/INR daily chart


The quote broke below a bear flag formation and challenged the 71.20 support level to then retest the 71.60 resistance. However, USD/INR has entered a tight range while remaining vulnerable below the 71.60/72.00 resistance zone. However, a close above the 72.00 figure on a daily basis would likely invalidate the bearish scenario and yields further upside towards the 72.40 level.

Additional key levels


Today last price71.4128
Today Daily Change0.0828
Today Daily Change %0.12
Today daily open71.33


Daily SMA2071.2892
Daily SMA5071.1986
Daily SMA10071.2279
Daily SMA20070.6742


Previous Daily High71.505
Previous Daily Low71.2455
Previous Weekly High71.8045
Previous Weekly Low71.077
Previous Monthly High72.57
Previous Monthly Low70.5875
Daily Fibonacci 38.2%71.4059
Daily Fibonacci 61.8%71.3446
Daily Pivot Point S171.2154
Daily Pivot Point S271.1007
Daily Pivot Point S370.9559
Daily Pivot Point R171.4749
Daily Pivot Point R271.6197
Daily Pivot Point R371.7344