OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/INR Price Analysis: Greenback holding steady vs. Indian rupee, bulls eyeing 72.00 figure

  • USD/INR is trading in a rectangle formation.
  • The level to beat for bulls is the 71.60 resistance.
 
 

USD/INR weekly chart

 
USD/INR is trading in a rectangle consolidation after the 2018 bull run; it is now holding above the main weekly simple moving averages (SMAs).
 

USD/INR daily chart

 
The spot is trading in a rectangle formation while respecting the 70.40-72.40 range as it is holding above the main simple moving average (SMA). As the market is rejecting the 70.40 support and reversing from the lower end of the range, the market could be set to extend its bullish move towards 71.60, 72.00 and 72.40 levels
 

Additional key levels

 

Lagarde speech: Headline inflation likely to hover around current levels in coming months

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marg
Read more Previous

Lagarde speech: We are going to monitor trade very carefully

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marg
Read more Next
Start livechat