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26 Feb 2020

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

  • USD/INR is trapped in a sideways market. 
  • The level to beat for bears is the 71.60 support. 

 

USD/INR weekly chart

 
After the 2018 bull-run, USD/INR has been consolidating in a rectangle pattern. The spot is trading above the main weekly simple moving averages (SMAs), suggesting a bullish bias in the long term.  
 

USD/INR daily chart

 
The spot is easing from the 70.40 resistance while retracing from the February highs. The spot is trapped in a range suggesting a potential decline below 71.60 support en route towards the 71.20 level in the medium term. 
  

Additional key levels

 

Feb 26, 2020

GBP/USD plummets to 1.2920 level, reverses Tuesday’s positive move

The GBP/USD pair continued losing ground through the mid-European session and refreshed daily lows, around the 1.2925-20 region in the last hour. A co
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Feb 26, 2020

EUR/GBP Price Analysis: Spikes to 2-week tops and retreats, holds above 0.8400 mark

Following the previous session's modest weakness, the EUR/GBP cross caught some fresh bids on Wednesday and jumped to two-week tops, around the 0.8435
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