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29 Apr 2020
USD/INR Price Analysis: Greenback sidelined above 76.00 ahead of FOMC vs. Indian rupee
- USD/INR is trading off the record high established last week at the 76.97 level.
- The bull trend remains intact with bulls eyeing a break above the 76.50 level.
- The FOMC is set to reveal its projections later this Wednesday.
USD/INR daily chart
USD/INR bull trend remains intact as the spot is trading above its main SMAs while making higher highs and lows. The spot is holding above the 76.00 support level while bulls are eager to resume the bull trend and bring the spot above the 76.50 level and the 77.00 figure en route towards the 78.00 figure. Conversely, support can emerge near the 76.00 and 75.00 levels.
Additional key levels