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16 Mar 2020

USD/INR New York Price Analysis: Dollar off three-decades highs near 74.00 figure post-Fed’s cut

USD/INR uptrend remains intact as the quote is trading off three-decades highs.
A deeper pullback down cannot be ruled out.
The Fed cut interest rates by 100bps to 0%.

USD/INR weekly chart

USD/INR is trading above its main weekly simple moving averages (SMAs) while trading near h three-decade highs just above the 74.00 figure. To respond to the coronaivurs crises, the Federal Reserves cut interest rates by surprise by 100bps to 0%.

USD/INR daily chart

The spot is currently fading the 75.00 figure while challenging the 74.00 level. A daily close below the 73.50 level might lead to a deeper retracement down towards 73.00 and 72.50 levels. Buyers would need to recapture the 75.50 resistance in order to travel into uncharted territories.

Additional key levels

Mar 16, 2020

USD/CHF pares early losses to sub-0.9400 levels, lacks follow-through

The USD/CHF pair maintained its offered tone through the early North-American session, albeit has managed to recover around 50 pips from an early dip

WTI collapses to the $29.00 region, 2020 lows in sight

Prices of the West Texas Intermediate have started the week on a much weaker tone and are holding on around the $29.00 mark per barrel at the time of