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  • USD/INR ended the month of April virtually unchanged. 
  • The current USD weakness is preventing any meaningful move up on USD/INR. 
 

USD/INR daily chart

 
 
USD/INR uptrend remains intact as the quote is trading above the main SMAs, however, the market consolidated throughout the month of April. The spot challenged the 75.00 support level while the market is retracing down. It is unclear if the greenback has what it takes to resume trending higher right now, therefore more consolidation can be on the cards for USD/INR. However, will still be looking for a break above the 76.00 and 76.50 price levels while support should be expected near 75.00 and 74.50 price levels.      
 

Additional key levels