FxWirePro: Indian rupee rises against U.S. dollar, faces immediate support at 73.12 mark
USD/INR is currently trading around 73.30 marks. It made intraday high at 73.70 and low at 73.28 marks. Intraday bias remains slightly bearish time pair holds key resistance at 73.70 mark. Key resistances are seen at 73.…
It made intraday high at 73.70 and low at 73.28 marks.
Intraday bias remains slightly bearish time pair holds key resistance at 73.70 mark.
Key resistances are seen at 73.70, 73.82, 74.28, 74.57, 74.77 and 74.95 marks respectively.
On the other side, initial supports are seen at 73.12, 72.89, 72.45, 72.12, 71.50, 71.33 and 71.13 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 1.44 percent lower at 10,302.20 points while BSE Sensex was trading 1.26 points lower at 34,340.86 points.
We prefer to take short position on USD/INR only below 73.12, stop loss at 73.70 and target of 72.45.
