5 Jun 2020
USD/INR New York Price Forecast: Greenback settles above the 75.50 level
- The greenback is finding acceptance above the 75.50 resistance.
- The level to beat for bulls is the 76.00 resistance.
- The Nonfarm Payrolls data for May will be released this Friday.
USD/INR daily chart
USD/INR is gathering pace above the 75.50 level but still below the 50 SMA on the daily chart. However, given the broad-based USD weakness, it is unclear how much room there is to the upside. Buyers would need a daily close above the 76.00 resistance level while they will try to defend the 75.50 level. On the macroeconomic front, the Nonfarm Payrolls will be closely watched by market participants this Friday.
Additional key levels