FxWirePro: Indian rupee strengthens against U.S. dollar, hits highest level since December 2015
USD/INR is currently trading around 65.49 marks. It made intraday high at 65.80 and low at 65.39 marks. Intraday bias remains bearish till the time pair holds key resistance at 66.00 marks. Key resistances are seen at 65…
It made intraday high at 65.80 and low at 65.39 marks.
Intraday bias remains bearish till the time pair holds key resistance at 66.00 marks.
Key resistances are seen at 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
On the other side, initial supports are seen at 65.34, 65.05, 64.82, 64.68 and 64.48 marks respectively.
In addition, India’s NSE Nifty was trading around0.11 percent higher at 9,096.70 points and BSE Sensex was trading at 0.07 percent higher at 29,462.80 points.
We prefer to take short position in USD/INR around 65.60, stop loss at 65.80 and target of 65.34/65.05.
