USD/INR Technical Analysis: Bearish while below 71.29
FXStreet News

USD/INR Technical Analysis: Bearish while below 71.29

  • USD/INR closed well below 71.29 (Thu’s low) on Friday, validating the repeated rejection at the 100-day moving average (MA) hurdle and Thursday’s bearish marubozu candle.
  • The pair, therefore, risks falling to 70.86 (Jan. 31 low) this week. A close below that level would only bolster the bearish setup and expose the support lined up at 70.52 (Jan. 3 high).
  • Bearish pressures would weaken if the spot finds acceptance above 71.29. The outlook would turn bullish above the 100-day moving average (MA), currently at 71.76.

Daily chart

Trend: bearish


       Today Last Price:  71.245
       Today Daily change:  0.0750  pips
       Today Daily change %:  0.11%
       Today Daily Open:  71.17
       Daily SMA20:  71.1902
       Daily SMA50:  70.8221
       Daily SMA100:  71.7593
       Daily SMA200:  70.3975
       Previous Daily High:  71.59
       Previous Daily Low:  71.015
       Previous Weekly High:  71.915
       Previous Weekly Low:  71.015
       Previous Monthly High:  71.64
       Previous Monthly Low:  69.185
       Daily Fibonacci 38.2%:  71.2346
       Daily Fibonacci 61.8%:  71.3704
       Daily Pivot Point S1:  70.9267
       Daily Pivot Point S2:  70.6833
       Daily Pivot Point S3:  70.3517
       Daily Pivot Point R1:  71.5017
       Daily Pivot Point R2:  71.8333
       Daily Pivot Point R3:  72.0767


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.