USD/INR firms near 86.00 as US Dollar stabilizes
The Indian Rupee (INR) weakens against the US Dollar (USD) during European trading hours on Wednesday, surrendering early gains as the Greenback steadies. The Rupee opened on a firm note amid favorable risk sentiment but eased lower through the session as theUS Dollar Index(DXY) held its ground near the previous week's low. Meanwhile, Crude Oil prices remain stable after a sharp two-day sell-off, offering limited support to the Rupee.
The USD/INR is showing a mild recovery, halting a three-day losing streak as it rebounds from an intraday low near 85.80. The pair found support at the 21-day Exponential Moving Average (EMA) and is trading around 86.02 at the time of writing, following a shallow intraday bounce.
Geopolitical tensions in the Middle East have eased following a ceasefire agreement between Iran and Israel, bringing some relief to global markets. Oil prices have stabilized after a sharp two-day sell-off, and safe-haven demand has cooled, supporting broader risk sentiment. While the Rupee has moderately benefited from the de-escalation, its response remains subdued. The INR still faces pressure from steady demand for the US Dollar — particularly from oil companies — and remains sensitive to shifts in global risk appetite.
USD/INR technical outlook: Retest in play, pair to trade in short-term range
USD/INR is currently trading around 86.03, retesting the breakout zone after slipping from recent highs. The pair found support near the 21-dayEMAat 85.91, which aligns closely with the upper boundary of the symmetrical triangle pattern. The pair recently broke out of a symmetrical triangle but faced resistance below the 87.00 psychological mark, triggering a pullback.
The Relative Strength Index (RSI) on the daily chart is easing, hovering above neutral at 53.02, which indicates a loss of bullish momentum and suggests potential range-bound trading between 85.80 and 86.90 in the near term. A decisive break on either side of this range will likely dictate the next directional bias.
Indian Rupee PRICE Today
The table below shows the percentage change of Indian Rupee (INR) against listed major currencies today. Indian Rupee was the strongest against the Japanese Yen.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Indian Rupee from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent INR (base)/USD (quote).
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