USD/INR New York Price Forecast: Greenback down, nearing the 75.00 figure vs.Indian rupee

 

 

USD/INR failed to find some footing near the 75.50 support level as the quote is losing steam below the 50 SMA on the daily chart. As the bears have taken the lead the market could decline towards the 75.00 figure near the May’s lows. However, a daily close below the 75.00 level can lead to increased selling with 74.60 as a potential target. On the other hand, resistance can be expected near the 75.50 and 76.00 levels.