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FxWirePro: Indian rupee falls gradually against U.S. dollar, hits lowest level since March 2017

  • USD/INR is currently trading around 65.52 marks.
     
  • It made intraday high at 65.53 and low at 65.26 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 65.37 marks.
     
  • Key resistances are seen at 65.52, 65.80 and 66.20 marks respectively.
     
  • On the other side, initial supports are seen at 65.37, 65.26, 65.12, 64.82, 64.64, 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 0.26 percent lower at 9,846.55 points and BSE Sensex was trading at 0.42 percent lower 31,493.73 points.

We prefer to take long position in USD/INR around 65.42, stop loss at 65.26 and target of 65.82.

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