Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/INR hovers around key resistance at 70.48 mark, sustained close above targets 71.06 mark

  • USD/INR is currently trading around 70.42 marks.
     
  • It made intraday high at 70.45 and low at 70.13 marks.
     
  • Intraday bias remains bullish for the moment.
     
  • Key resistances are seen at 70.48, 70.57, 70.86, 71.06 and 71.48 marks respectively.
     
  • On the other side, initial supports are seen at 70.15, 69.87, 69.62, 69.35, 69.02, 68.65 and 68.15 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
     
  • India’s NSE Nifty was trading around 0.18 percent lower at 10,834.58 points while BSE Sensex was trading 0.09 points lower at 36,180.32 points.

We prefer to take long position on USD/INR only above 70.57, stop loss at 70.15 and target of 71.06.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.