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USD/INR New York Price Analysis: Dollar bears pressuring 71.60 support vs. rupee

  • USD/INR is trapped in a range market while the market is easing from February tops. 
  • The level to beat for sellers is the 71.60 support. 

USD/INR weekly chart

Following the 2018 bull-market, USD/INR has been consolidating in a rectangle formation. The quote is trading above its main weekly simple moving averages (SMAs), suggesting a bullish momentum in the long term.  

USD/INR daily chart

The spot is retracing down from the 72.40 resistance while retracing from February tops. USD/INR is trapped in a sideways market as bears are pressuring the 71.60 support en route towards the 71.20 level in the medium term. 

Additional key levels


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