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9 Mar 2020
USD/INR New York Price Forecast: Dollar trades in 2020 highs vs. Indian rupee
- USD/INR bull trend stays intact as the market trades in fresh 2020 highs.
- The level to beat for bulls is the 75.00 figure.
USD/INR weekly chart
Following the 2018 bull-market, USD/INR has been consolidating in a rectangle pattern for the main part of 2019. USD/INR is trading above the 200-week simple moving averages (SMAs) while printing fresh 2020 highs, suggesting a bullish bias in the long term.
USD/INR daily chart
The quote is trading in fresh 2020 highs just above the 74.00 figure. A break beyond the 75.00 resistance would most likely lead to extra gains towards the 75.50 and 76.00 figures. Support is seen near the 74.00 figure followed by the 73.50 and 73.00 price levels.
Additional key levels