USD/INR New York Price Analysis: Dollar trading in 2020 highs vs. rupee

  • USD/INR is pressuring the 73.00 figure.
  • USD/INR bulls are likely looking to trade above the 2020 highs.

USD/INR weekly chart

Following the 2018 bull-market, USD/INR has been consolidating in a rectangle formation. The quote is trading above its main weekly simple moving averages (SMAs), suggesting a bullish momentum in the long term.  

USD/INR daily chart

USD/INR is challenging the 2020 highs just below the 73.00 figure. A break above the above-mentioned level would lead to extra gains towards the 74.00 and 75.00 figures. Support is seen near the 72.65 and 72.40 price levels.

  

Additional key levels

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