4 Jun 2020
USD/INR Price Analysis: Greenback limited by the 75.50 level vs. Indian rupee
- The greenback is finding little acceptance above the 75.50 resistance.
- The level to beat for sellers is the 75.00 support.
USD/INR daily chart
After finding some footing near the 75.00 support level, USD/INR regained some strength but is still unable to clearly break the 75.50 resistance. In addition to this, the market is also trading below the 50 SMA on the daily chart. Given the broad-based USD weakness, a daily close below the 75.00 support can lead to increased selling interest with 74.60 as a potential target.
Additional key levels