FxWirePro: India rupee falls against U.S. dollar after lower than expected services PMI data
USD/INR is currently trading around 68.10 marks. It made intraday high at 68.13 and low at 67.96 marks. Intraday bias remains bullish till the time pair holds key support at 67.91 mark. Key resistances are seen at 68.26,…
It made intraday high at 68.13 and low at 67.96 marks.
Intraday bias remains bullish till the time pair holds key support at 67.91 mark.
Key resistances are seen at 68.26, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
On the other side, initial supports are seen at 67.91, 67.72, 67.59, 67.22, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
In addition, India’s NSE Nifty was trading around 0.51 percent higher at 8,128.90 points and BSE Sensex was trading at 0.19 percent higher at 26,281.57 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
India November Nikkei markit services PMI decreases to 46.7 vs previous 54.5.
We prefer to take long position in USD/INR around 68.05, stop loss 67.91 and target of 68.26/68.50/68.63.
