FxWirePro: Indian rupee falls gradually against U.S. dollar, bias remains slightly bullish
USD/INR is currently trading around 69.47 marks. It made intraday high at 69.48 and low at 69.34 marks. Intraday bias remains slightly bullish for the moment. Key resistances are seen at 69.52, 69.85, 70.20, 70.52, 70.85…
It made intraday high at 69.48 and low at 69.34 marks.
Intraday bias remains slightly bullish for the moment.
Key resistances are seen at 69.52, 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
On the other side, initial supports are seen 69.02, 68.60, 68.49, 67.88 and 67.67 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 was trading 0.62 pct higher at 11,940.55 points and BSE Sensex was trading 0.64 pct higher at 39,869.79 points.
We prefer to take long position on USD/INR only above 69.52, stop loss 69.20 and target of 69.85.
