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

 

 

USD/INR broke below the 75.50 level after an initial test to the 76.00 figure at the start of the week on Monday. The market is declining below the 50 SMA and nearing he 75.00 figure. A break below this level can lead to further declines towards the 74.50 level in the medium-term. On the flip side, resistance can emerge near the 75.50 and 76.00 levels. Meanwhile, the US will release its inflation data for the month of April at 12.30 GMT.