FxWirePro: Indian rupee erases previous gain against U.S. dollar, short term trend reversal likely
USD/INR is currently trading around 66.91 marks. It made intraday high at 66.91 and low at 66.74 marks. Intraday bias remains bullish for the moment. Key resistances are seen at 67.04, 67.31, 67.45, 67.66, 67.87, 67.99, …
It made intraday high at 66.91 and low at 66.74 marks.
Intraday bias remains bullish for the moment.
Key resistances are seen at 67.04, 67.31, 67.45, 67.66, 67.87, 67.99, 68.15, 68.32, 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 66.82, 66.75, 66.64, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
In addition, India’s NSE Nifty was trading around 0.18 percent higher at 8,794.70 points and BSE Sensex was trading at 0.15 percent higher at 28,372 points.
We prefer to take short position on USD/INR around 66.95, stop loss at 67.05 and target of 66.82/66.75/66.64.
