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.
USD/INR Price News
However, the upbeat Momentum line and the pair’s successful trading above 50-day SMA, as well as a monthly support line, back rupee bulls aim to cross the 74.55-60 immediate hurdle, comprising 12-week-old horizontal line.
Following that, the 75.00 psychological magnet and 75.30 resistance could test the quote’s further upside ahead of directing the north-run towards the yearly top near 75.65. On the contrary, a downside break of 74.00 will aim for the 73.60-55 support convergence, including the stated SMA and trend line.
Although rupee bears are likely to retreat from 73.55, any further weakness won’t hesitate to challenge the previous month’s low near 72.35. During the fall, the 73.00 threshold may offer an inter3ediate halt to watch.