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USD/INR New York Price Forecast: Dollar unfazed by Fed’s unlimited Quantitative Easing vs. rupee

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  • USD/INR bull trend remains intact as the spot is navigating in three-decades highs.
  • Broad-based USD demand pushed USD/INR into fresh 2020 highs.
  • The level to beat for bulls is the 77.00 figure.
 

USD/INR weekly chart

 
USD/INR is trading above the main weekly simple moving averages (SMAs) while breaking to three-decade highs. Exceptional USD demand remains unabated as the Fed announces open-ended bond-buying or QE (Quantitative Easing).    
 

USD/INR daily chart

 
USD/INR is pushing its way into fresh 2020 highs while trading well above the main SMAs. Bulls want a daily close above 77.00 figure to have a run towards the 78.00 and 80.00 levels. Support can be found near the 76.00, 74.00 and 73.00 levels. 
    

Additional key levels

 

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