FxWirePro: Indian rupee trades marginally lower against U.S. dollar, faces strong resistance at 67.45
Tuesday, February 7, 2017 6:06 AM UTC
- USD/INR is currently trading around 67.30 marks.
- It made intraday high at 67.33 and low at 67.14 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 67.07 marks.
- Key resistances are seen at 67.36, 67.45, 67.66, 67.87, 67.99, 68.15, 68.32, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
- On the other side, initial supports are seen at 67.07, 66.99, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.28 percent lower at 8,777.70 points and BSE Sensex was trading at 0.32 percent lower at 28,371 points.
We prefer to take short position on USD/INR around 67.35, stop loss at 67.45 and target of 67.07/66.99/66.82.