The quotes of the Indian Rupee against the US Dollar USD/INR currency pair continue to move within the development of growth and a bullish channel. The moving averages indicate the presence of a short-term upward trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and a potential continuation of the growth of the instrument from the current levels. At the time of publication of the forecast, the Indian Rupee to the US Dollar exchange rate is 88.85. At the moment, it is worth considering an attempt to develop a bearish correction and a test of the support level near the 86.15 area. Further, within the framework of the USD/INR forecast for tomorrow, an upward price rebound and an attempt to develop growth of the currency pair to the area above the 88.35 level are expected.
USD/INR Forecast Indian Rupee for February 20, 2025
An additional signal in favor of the growth of the INR/USD currency pair will be a test of the support line on the relative strength indicator (RSI). The second signal in favor of this scenario will be a rebound from the lower border of the bullish channel. The cancellation of the growth option for the Indian Rupee against the US Dollar will be a price drop and a breakout of the 85.85 level. This will indicate a breakout of the support area. In this case, the pair will continue to grow to the area below 83.35. Confirmation of the fall of the USD/INR currency pair should be expected with a breakout of the resistance area and closing of quotes above 87.55.
USD/INR Forecast Indian Rupee for February 20, 2025 suggests an attempt to test the support area near the 86.15 level. From where we should expect continued growth of quotes to the area above 88.35. An additional signal in favor of growth will be a test of the trend line on the relative strength indicator. The cancellation of the growth option for the INR/USD pair will be a price drop and a breakout of the 85.85 level. In this case, we should expect a continuation of the decline of the pair with a potential target below 83.35.
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