FxWirePro: Indian rupee remains unchanged after manufacturing PMI data, RBI’s rate decision in focus

• USD/INR is currently trading around 68.49 marks.
   
• It made intraday high at 68.49 and low at 68.39 marks.
   
• Intraday bias remains neutral for the moment.
   
• Key resistances are seen at 68.75, 68.94, 69.05, 69.18, 69.52 and 69.88 marks respectively.
   
• On the other side, initial supports are seen at 68.42, 68.15, 67.97, 67.79 and 67.59 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 0.11 percent higher at 11,370.22 points while BSE Sensex was trading 0.09 points higher at 37,650.82 points.
   
• RBI will release repo rate at 0900 GMT.
   
• India July 2018 Nikkei markit manufacturing PMI decrease to 52.3 (forecast 53) vs previous 53.1.

We prefer to take long position on USD/INR around 68.35, stop loss at 68.15 and target of 68.75.