The US dollar has lost ground against the Indian rupee in the forex market for a third straight day and currently trades near the 45.50 exchange rate at the end of the US trading session.
The USD/INR pair had a few spikes in price action today and continues to encounter heavy selling resistance at the 200-day moving average at the 46.00 exchange level.
The USD/INR currency pair opened the day at the 45.58 exchange rate, registering a high for today at the 46.04 exchange rate and was sold lower while touching a low of 45.07. The pair currently trades near the 45.50 exchange rate at the end of the US session, according to currency data from Oanda.
USD/INR Forex Chart – The Dollar/Rupee currency pair tested and hit resistance at the 200-day simple moving average (red line) again today and was rejected lower.
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