FxWirePro: Indian rupee hits fresh monthly low against US dollar, key resistance falls to 66.96
USD/INR is currently trading at 66.8050 marks. It made intraday high at 66.84 and low at 66.63 levels. Intraday bias remains bullish till the time pair holds key support at 66.62 marks. A daily close below 66.62 will tak…
It made intraday high at 66.84 and low at 66.63 levels.
Intraday bias remains bullish till the time pair holds key support at 66.62 marks.
A daily close below 66.62 will take the parity down around key supports at 66.47/66.32/66.10/65.95 levels respectively.
On the top side, key resistance levels are seen at 66.86/66.95/ 67.15 levels.
In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.40% lower at 25,575 while NSE Nifty fell 0.09% to 7847 points.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend. Current upward trend is short term correction only.
We prefer to take short position in USD/INR above 66.82, stop loss 66.96 and target 66.47 levels.
