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USD/INR New York Price Forecast: Dollar off all-time highs, trades near 76.00 figure

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

USD/INR weekly chart

 
USD/INR is trading above the main weekly simple moving averages (SMAs) while trading near all-time highs. Exceptional USD demand should remain in place as the Fed launched its largest-ever open-ended bond-buying or QE (Quantitative Easing).
 

USD/INR daily chart

 
USD/INR is in consolidation mode while trading well above the main SMAs. Buyers remain in control as the spot finds support near the 76.00 figure. However, bulls will need to overcome the 77.00 and 78.00 figures in order to travel hit 80.00 big round number. Support is expected at the 76.00, 75.00 and 74.00 price levels. 
     

Additional key levels

 

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