The US dollar has gained ground against the Indian rupee in the forex market for a second straight day as the dollar rose broadly today in trading on better than expected US private employment numbers.
The USD/INR currency pair opened the day near the 45.74 exchange rate and rose to touch its highest exchange rate since December 20th at the 46.03 exchange rate, according to currency data from Oanda. The pair’s price action encountered resistance right above the 200-day moving average at the 46.00 exchange rate.
The pair currently trades above the 45.80 exchange rate in the afternoon of the US session.
USD/INR Forex Chart – The Dollar/Rupee currency pair tested and hit resistance at the 200-day simple moving average (red line) in today’s trading as the dollar has risen for a second day against the Rupee.
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