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FxWirePro: Indian rupee falls gradually against U.S. dollar, downside limited

  • USD/INR is currently trading around 65.20 marks.
     
  • It made intraday high at 65.20 and low at 65.05 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 65.01 marks.
     
  • Key resistances are seen at 65.32, 65.48, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
     
  • On the other side, initial supports are seen at 65.18, 65.01, 64.92, 64.75, 64.53 and 64.29 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • India’s NSE Nifty was trading around 0.10 percent lower at 10,333.70 points and BSE Sensex was trading at 0.14 percent higher 33,193.96 points.

We prefer to take long position in USD/INR around 65.17, stop loss at 65.01 and target of 65.35/65.48.

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