Home USD/INR New York Price Forecast: Greenback challenging 71.20 support vs. rupee

USD/INR New York Price Forecast: Greenback challenging 71.20 support vs. rupee

Updated: 4 Feb. 2020 | 14:12

USD/INR’s bear flag could drive the price down.
The level to beat for sellers is the 71.20 level.

USD/INR weekly chart

The market is trading above the main weekly simple moving averages (SMAs). After the 2018 bull market, USD/INR has been consolidating in a rectangle formation.

USD/INR daily chart

The spot formed a bear flag pattern within a rectangle. Bears want to break below the 71.20 support to drive the market towards the 70.40 level. On the flip side, a break above the 72.00 figure could open the gates to 72.40 resistance.

Additional key levels

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