Home USD/INR New York Price Forecast: Dollar off three-decades highs, trades near 74.00 vs Indian rupee
FXStreet News

USD/INR New York Price Forecast: Dollar off three-decades highs, trades near 74.00 vs Indian rupee

FX Street
Updated:
  • USD/INR bull trend stays intact as the spot is off three-decades highs.
  • A deeper retracement down cannot be ruled out. 
 

USD/INR weekly chart

 
USD/INR is trading above its main weekly simple moving averages (SMAs) as it printed a fresh three-decade high at the 75.19 level.
 

USD/INR daily chart

 
The spot is retracing down from the 75.00 figure while challenging the 74.00 level. A daily close below 73.50 could lead to a deeper pullback down towards 73.00 and 72.50 levels. Bulls would need to recapture the 75.00 resistance in order to travel into uncharted territories. 
   

Additional key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024