USD/INR New York Price Forecast: Greenback stabilizing near the 75.75 level vs. Indian rupee

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  • USD/INR is bouncing off the 75.50 support as the New York forex session is starting.
  • Resistance can emerge near the 76.00 figure.
 

USD/INR daily chart

 
USD/INR is stabilizing above the 75.50 support level while still below the 50 SMA on the daily chart. The market has been struggling to find a direction in May while confined in the 75.00/76.00 range. A daily close below the 75.50 level can yields more down with 75.00 as a potential target. On the other hand, resistance can emerge near the 76.00 figure.
  

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