- Summary:
- USD/INR remains near record highs as the Indian rupee struggles against a strong U.S. dollar. Key levels and forecast analysed here.
The Indian rupee continues to weaken against the U.S. dollar, with USD/INR trading near 86.52, hovering close to record highs. While the Reserve Bank of India (RBI) has intervened, its efforts haven’t been aggressive enough to halt the uptrend. The big question is whether the rupee can fight back or if the USD/INR will push toward fresh highs.
USD/INR Technical Analysis: Can the Uptrend Hold?
USDINR Key Support and Resistance Levels
- Immediate resistance: 86.69 – A breakout could push USD/INR toward 87.00.
- Current price: 86.52 – Consolidation near recent highs.
- First support: 86.13 – Bulls remain in control above this level.
- Stronger support: 85.80 – 85.37 – A break below could shift momentum bearish.
- Major downside target: 84.88 – If sentiment weakens, this could be the next test.
USD/INR Forecast: What’s Next?
Right now, the trend favors further rupee weakness, but a reversal could happen if the RBI steps in more aggressively, the Fed shifts dovish, or India’s budget delivers a confidence boost. If USD/INR breaks 86.69, bulls will likely target 87.00+, while a drop below 86.13 could open the door to 85.80 or lower.
Final Thoughts
USD/INR has been on a relentless climb, but nothing moves in a straight line forever. If you’re a bull, you want to see 86.69 break for new highs. If you’re betting on a rupee recovery, watch for signs of exhaustion or a drop below 86.13. Either way, expect some volatility with key events this week. Buckle up!