USD/INR Levels Today

### Today’s USD/INR Target & Stop Loss

Within the first few minutes of trading, traders should focus on one question—is USD/INR resuming its recovery or merely witnessing a short-covering bounce? The bias has turned mildly bullish after the July futures settled at 95.4025, posting a strong gain of over 0.53% with a breakout above the recent consolidation zone. The highest-probability trade remains buying on dips above 95.20, as the pair has formed a higher low after defending the 94.80 support area. This bullish view will be invalidated if USD/INR slips below 94.95, which could invite fresh selling towards 94.70–94.55. On the upside, a sustained move above 95.55 may extend the rally towards 95.80–96.00.

Probability:

✅ 65% chance of trading between 95.20 – 95.70
✅ 25% chance of breakout above 95.70 towards 95.90–96.00
❌ 10% chance of sharp decline below 94.95

Bullish Above: 95.20
Bearish Below: 94.95
Expected Range: 95.05 – 95.70
Best Trade Today: Buy USD/INR Futures above 95.20

### USD/INR Today: Support, Resistance & Trade Setup

The USD/INR July Futures ended at 95.4025, registering their strongest close in nearly two weeks after rebounding sharply from the 94.80–94.85 support zone. The contract formed a bullish candle with higher volume, indicating renewed buying interest after a prolonged corrective phase.

The three-month technical chart suggests that the pair is attempting to reverse its short-term downtrend. RSI has improved to around 52, indicating neutral-to-positive momentum, while Stochastic RSI has moved into the bullish zone, supporting the possibility of further upside if resistance levels are crossed.

Open Interest declined marginally by 12,649 contracts, while price moved higher. This combination suggests short covering rather than aggressive fresh long build-up, which is generally positive for near-term sentiment.

### Key USD/INR Levels Today

### Chanakya View

👉 Above 95.20: Buy on dips for targets of 95.55–95.80.

👉 Above 95.55: Fresh buying may extend the rally towards 95.90–96.00.

👉 Below 94.95: Weakness may resume towards 94.70–94.55.

👉 Between 95.05–95.55: Expect consolidation with range-bound trading.

### USD/INR Futures Strategy Today

### Why This Trade?

• USD/INR futures closed at 95.4025, the highest settlement in several sessions.
• Price has successfully defended the 94.80 support zone and formed a bullish reversal candle.
• RSI has climbed above the neutral 50 level, indicating improving momentum.
• Stochastic RSI has entered bullish territory, suggesting strengthening buying momentum.
• Futures volume increased to 2.56 lakh contracts, reflecting healthy market participation.
• Open Interest declined while prices advanced, signalling short covering, which often supports near-term rallies.
• Global uncertainty and expectations around US economic data continue to provide support to the US Dollar.

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