FxWirePro: Indian rupee trades almost flat against U.S. dollar, RBI’s monetary policy in focus
USD/INR is currently trading around 65.01 marks. It made intraday high at 65.08 and low at 64.95 marks. Intraday bias remains neutral till the time pair holds key resistance at 65.03 marks. Key resistances are seen at 65…
It made intraday high at 65.08 and low at 64.95 marks.
Intraday bias remains neutral till the time pair holds key resistance at 65.03 marks.
Key resistances are seen at 65.03, 65.19, 65.34, 65.48, 65.64, 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 64.92, 64.85, 64.72, 64.58 and 64.34 marks respectively.
In addition, India’s NSE Nifty was trading around 0.32 percent lower at 9,235.22 points and BSE Sensex was trading at 0.25 percent lower at 29,899.71 points.
RBI will release monetary policy at 0900 GMT.
We prefer to go long on USD/INR around 64.98, stop loss 64.72 and target of 65.19/65.52.
