FxWirePro: Indian rupee rises against U.S. dollar ahead of industrial output, manufacturing output data
USD/INR is currently trading around 68.55 marks. It made intraday high at 68.80 and low at 68.46 marks. Intraday bias remains slightly bearish for the moment. Key resistances are seen at 68.99, 69.18, 69.52 and 69.88 mar…
It made intraday high at 68.80 and low at 68.46 marks.
Intraday bias remains slightly bearish for the moment.
Key resistances are seen at 68.99, 69.18, 69.52 and 69.88 marks respectively.
On the other side, initial supports are seen at 68.47, 68.34, 68.14, 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. Current downside movement is short term trend correction only.
India’s NSE Nifty was trading around 0.82 percent higher at 11,030.22 points while BSE Sensex was trading 0.36 points higher at 36,553.82 points.
India will release industrial out as well as manufacturing output data at 1130 GMT.
We prefer to take long position on USD/INR around 68.48, stop loss at 68.30 and target of 69.20.
