USD/INR Price Analysis: Indian Rupee stays on the way to refreshing record low past 83.00

  • USD/INR bulls occupy driver’s seat at YTD top, up for the third consecutive day.
  • Clear upside break of nine-month-old resistance line, bullish MACD signals favor Indian Rupee sellers.
  • Overbought RSI suggests limited upside room, highlighting record high marked in 2022.
  • Pullback remains elusive beyond 82.75; bulls could aim for 84.00 round figure.

USD/INR defends the previous day’s upside break of the key resistance line while sticking to mild intraday gains around the yearly high amid early Tuesday. With this, the Indian Rupee (INR) pair prints a three-day winning streak near 83.20 by the press time.

Not only an upside break of the rising resistance line from early November 2022, now immediate support near the 83.00 round figure, but the bullish MACD signals also favor the USD/INR pair buyers.

It’s worth noting, however, that the RSI (14) line is nearly overbought and hence highlights the previous yearly peak of around 83.30, also the all-time high, as the key hurdle for the USD/INR bulls.

In a case where the India Rupee (INR) sellers dominate past 83.30, the odds of witnessing the pair’s rally towards the 84.00 round figure can’t be ruled out.

On the flip side, a daily closing below the resistance-turned-support line of around 83.00 becomes necessary for the USD/INR sellers to return.

Even so, a three-week-old ascending support line surrounding 82.75 will act as the last defense of the USD/INR bulls.

Above all, the Indian Rupee bears remain hopeful unless the quote provides a daily closing below the 200-DMA level of 82.15.

USD/INR: Daily chart

Trend: Further upside expected


Today last price83.2417
Today Daily Change-0.0469
Today Daily Change %-0.06%
Today daily open83.2886
Daily SMA2082.4711
Daily SMA5082.3008
Daily SMA10082.2336
Daily SMA20082.18
Previous Daily High83.2926
Previous Daily Low82.8946
Previous Weekly High83.0466
Previous Weekly Low82.5854
Previous Monthly High82.8334
Previous Monthly Low81.6588
Daily Fibonacci 38.2%83.1405
Daily Fibonacci 61.8%83.0466
Daily Pivot Point S183.0245
Daily Pivot Point S282.7605
Daily Pivot Point S382.6265
Daily Pivot Point R183.4225
Daily Pivot Point R283.5566
Daily Pivot Point R383.8206
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