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USD/INR New York Price Forecast: Dollar easing from three-decades highs vs. rupee

  • USD/INR bull trend remains intact as the market is off three-decades highs.
  • A correction down cannot be ruled out. 
 

USD/INR weekly chart

 
USD/INR is trading above the main weekly simple moving averages (SMAs) while printing a fresh three-decade high at the 75.19 level.
 

USD/INR daily chart

 
The spot is pulling back down from the 75.00 figure while challenging the 74.00 level. A daily close below the above-mentioned level could lead to a deeper retracement down towards 73.50 and 73.00 levels. Bulls would need to recapture the 75.00 resistance to travel in uncharted territories. 
   

Additional key levels

 

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