Currencies

USD to INR: Can Indian Rupee Sustain $64.00 VS US Dollar?

USD to INR is slowly recovering above $63.00. However, the US Dollar might gain pace and move above $64.00 against the Indian Rupee.

USD/INR Chart Analysis

Looking at the 4-hour chart of USD/INR, there is a major resistance forming near $64.00. There is a bearish trend line positioned at $64.00-64.05 along with the 100 simple moving average.

Moreover, a break above the 50% Fib retracement level of the last decline from the $64.29 high to $63.73 low could open the doors for an extension towards $64.50.

USD/INR Indian Rupee Forecast

Can US Dollar make it Vs Indian Rupee?

It all depends on whether there can be a proper close above the $64.00 handle or not. We may still continue to see ranging moves before there is a nasty break either above $65.00 or below $63.00.

All tensions surrounding North Korea could impact the USD/INR prices in the near term.

Today, BSE Sensex was down by more than 300 points and traded as low as 31,372 (as of writing).

 

Trade safe traders and enjoy the ride!!!

3 Comments

3 Comments

  1. Pingback: Top Stocks That Are Rock Steady In a Volatile Share Market

  2. Pingback: Bitcoin Price Forecast: BTC/USD Testing Crucial Support

  3. Pingback: Bitcoin Price Forecast: BTC/USD Testing Crucial Support – the internet's best kept secret

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay updated with latest news on finance, taxation reforms, stocks, currencies, trading, global markets and many more.

Are you finding it difficult to manage your personal finance? Know your best opportunities of investments and savings with expert analysis and latest updates.

Copyright © 2016 Finance Minutes

You agree to not make actual stock trades based on comments on the site, nor on any techniques presented nor discussed in this site or any other form of information presentation. Finance Minutes will not be held liable for any losses you in occur while trading. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. All information is for educational and informational use only. You agree to consult with a registered investment advisor, prior to making any trading decision of any kind.

To Top