USD/INR New York Price Forecast: Dollar off three-decades highs, trades near 74.00 vs Indian rupee

USD/INR bull trend stays intact as the spot is off three-decades highs.
A deeper retracement down cannot be ruled out.

USD/INR weekly chart

USD/INR is trading above its main weekly simple moving averages (SMAs) as it printed a fresh three-decade high at the 75.19 level.

USD/INR daily chart

The spot is retracing down from the 75.00 figure while challenging the 74.00 level. A daily close below 73.50 could lead to a deeper pullback down towards 73.00 and 72.50 levels. Bulls would need to recapture the 75.00 resistance in order to travel into uncharted territories.

Additional key levels

Mar 11, 2020

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