Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/INR remains well supported below 71.50 mark, stay bearish

  • USD/INR is currently trading around 71.16 marks.
     
  • It made intraday high at 71.32 and low at 71.14 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 71.32 mark.
     
  • Key resistances are seen at 71.32, 71.48 and 71.86 marks respectively.
     
  • On the other side, initial supports are seen at 71.06, 70.93, 70.78, 70.23, 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.
     
  • India’s NSE Nifty was trading around 0.11 percent lower at 10,640.58 points while BSE Sensex was trading 0.01 points higher at 35,598.55 points.

We prefer to take long position on USD/INR only above 71.32, stop loss at 71.00 and target of 71.86.

  • Market Data
Close

Welcome to EconoTimes

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