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- USD/INR Price News: Indian rupee buyers eye 75.65 on breaking 10-DMA, monthly support
USD/INR Price News: Indian rupee buyers eye 75.65 on breaking 10-DMA, monthly support
- USD/INR remains pressured around one-week low after breaking short-term key supports.
- Receding bullish bias of MACD also favors sellers to aim for tops marked in April, October.
USD/INR holds lower grounds near 75.75 during early Tuesday, after breaking the 10-DMA and an ascending support line from late November the previous day.
As the MACD line also teases sellers, backed by the aforementioned support break, USD/INR prices are likely to witness further downside.
However, the 75.65-63 region comprising highs marked in April and October becomes a tough nut to crack for the pair bears.
Should USD/INR bears conquer the 75.65 support, July’s peak of 75.01 will be in focus.
On the flip side, recovery moves remain elusive below the support-turned-resistance line near 76.00. Adding to the immediate upside filters is the 10-DMA level of 75.87.
During the USD/INR recovery beyond 76.00, the 76.30 level may offer an intermediate halt during the run-up to the latest peak of 76.59 and then to the 77.00 psychological magnet.
USD/INR: Daily chart
Trend: Further weakness expected
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