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USD/INR New York Price Forecast: Dollar consolidates gains near all-time highs vs. rupee

  • USD/INR bull trend stays intact as the spot is trading near the all-time high.
  • The level to beat for bulls is the 78.00 figure.
 

USD/INR weekly chart

 
USD/INR is trading above its main weekly simple moving averages (SMAs) while navigating all-time highs. Above-average USD demand stays unabated as the Fed launched its largest-ever open-ended bond-buying or QE (Quantitative Easing).
 

USD/INR daily chart

 
USD/INR is consolidating gains while trading well above its main SMAs. Bulls remain in control as the spot needs to overcome the 77.00 and 78.00 figures in order t o travel towards the 80 big round number. Support is expected at the 76.00, 75.00 and 74.00 price levels. 
     

Additional key levels

 

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