USD/INR Price News: Rupee bears take a breather during a three-day fall, around 74.39, amid the initial Indian session on Thursday. The cross-currency pair dropped to the 12-day low the previous day after breaking convergence of 21-DMA and an ascending support line, now resistance, from June 22.
USD/INR Price News: Rupee justifies the upside break of a three-month-old resistance, now support, while refreshing the highest levels since April 27 during early Friday. That said, the Indian rupee (INR) bears print 74.63 as a quote versus the US dollar, up 0.12% intraday, ahead of the critical US jobs report.
USD/INR Price News: Rupee eases to 74.23, up 0.06% intraday, amid the initial Indian trading hour on Monday. The Indian rupee (INR) pair has been stuck in a choppy range between 74.00 and 74.55-60 since last week.
The Indian rupee opened on a flat note and edged higher by 1.25 paise to 72.14 against the US dollar in early morning trade today amid volatility seen in the domestic equity market.
USD/INR Price News: Rupee snaps two-day uptrend, fails to extend the Fed-led rally, while bouncing off intraday low of 73.58 to 73.69, down 0.19% on a day, amid the initial Indian session trading.
USD/INR Price: Rupee struggles to extend Friday’s uptrend above 73.00, up 0.05% around 73.35, amid the initial hour of Monday’s Indian trading session. The Indian rupee (INR) pair broke a key upside hurdle, now support, from early May the previous day.
U.S. Dollar is at its highest level since May 14 early Friday as traders await the release of the May U.S. Non-Farm Payrolls report at 12:30 GMT. On Thursday, the dollar index was boosted by stronger-than-expected U.S. jobs data that suggested an improving labor market and reinforced signs that the world’s largest economy was on its way to recovery from the COVID-19 pandemic.
USD/INR Price: Rupee battles key hurdle to the north around 72.75-80, up 0.13% intraday, amid the initial hour Thursday’s of Indian trading session. In doing so, the Indian rupee (INR) pair snaps a five-day downtrend while looking to confirm a bullish chart pattern, falling wedge, on the four-hour (4H) play.
The greenback navigates the lower bound of the recent range and keeps the US Dollar Index (DXY) close to monthly lows in the 8970/65 band. The index now struggles for direction after bottoming out in the 89.70 zone earlier in the session.
The greenback, in terms of the US Dollar Index (DXY), alternates gains with losses around the 90.30 region at the beginning of the trading week. The index navigates the lower end of the recent range amidst inconclusive risk trends and the persistent corrective downside in yields of the US 10-year reference.