FxWirePro: Indian rupee gains against US dollar, intraday bias remains bearish
USD/INR is currently trading around 66.70. It made intraday high at 66.84 and low at 66.67 marks. Intraday bias remains bearish till the time pair holds key resistance at 66.91 marks. A daily close below 66.56 will take …
It made intraday high at 66.84 and low at 66.67 marks.
Intraday bias remains bearish till the time pair holds key resistance at 66.91 marks.
A daily close below 66.56 will take the parity down around key supports at 66.42(May 01, 2016 low) /66.32 (November 2015 low) /66.23/66.10/65.95/65.81 marks respectively.
On the other side, key resistance levels are seen at 66.84 (55D EMA)/ 66.95/ 67.17 (December 14, 2015 high) levels respectively.
In addition, Indian stock markets are trading on a positive note. As BSE Sensex was trading 0.57% higher at 25,798.94 while NSE Nifty up by 0.51% to 7,900 points.
We prefer to take short position in USD/INR around 66.76, stop loss 66.91 and target 66.32 levels.
