USD/INR price analysis: Greenback losing strength against Indian Rupee, challenges 71.00 handle

 

 

USD/INR is trading sideways above the 200-day simple moving averages (DMA) but below the 50/100 DMAs. The market broke below the 71.20 swing low, opening the doors for a potential move down to the 70.50 level. 

 

 

The spot is trading below its main SMAs suggesting a bearish bias in the medium term. Resistances are seen at the 71.50 and 71.90 price levels.