FxWirePro: Indian rupee falls gradually against U.S. dollar, stay bullish

• USD/INR is currently trading around 68.25 marks.
   
• It made intraday high at 68.34 and low at 68.14 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 68.04 mark.
   
• Key resistances are seen at 68.50, 68.68, 68.83 and 68.98 marks respectively.
   
• On the other side, initial supports are seen at 68.04, 67.77, 67.58, 67.18, 67.02, 66.80, 66.68, 66.42, 66.30 and 66.16 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 0.36 percent lower at 10,489.80 points while BSE Sensex was trading 0.23 points lower at 34,569.88 points.

We prefer to take long position in USD/INR around 68.18, stop loss at 67.95 and target of 68.50/68.68.

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