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FxWirePro: Indian rupee hits fresh 2-week low at 68.91 mark ahead of industrial output, manufacturing output data

  • USD/INR is currently trading around 68.88 marks.
     
  • It made intraday high at 68.91 and low at 68.65 marks.
     
  • Intraday bias remains bullish for the moment.
     
  • Key resistances are seen at 68.94, 69.05, 69.18, 69.52 and 69.88 marks respectively.
     
  • On the other side, initial supports are seen at 68.65, 68.50, 68.34, 68.15, 67.97, 67.79 and 67.59 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • India’s NSE Nifty was trading around 0.26 percent lower at 11,446.22 points while BSE Sensex was trading 0.23 points lower at 37,930.82 points.
     
  • India will release industrial output as well as manufacturing output data at 1130 GMT.

We prefer to take long position on USD/INR around 68.80, stop loss at 68.65 and target of 69.52.

  • Market Data
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