FxWirePro: Indian rupee trades marginally lower against U.S. dollar, stay bullish

• USD/INR is currently trading around 65.44 marks.
   
• It made intraday high at 65.48 and low at 65.35 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 65.30 marks.
   
• Key resistances are seen at 65.50, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
   
• On the other side, initial supports are seen at 65.26, 65.12, 64.82, 64.64, 64.53 and 64.29 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.45 percent higher at 10,061.55 points and BSE Sensex was trading at 0.46 percent higher 32,071.10 points.

We prefer to take long position in USD/INR around 65.38, stop loss at 65.30 and target of 65.58/65.72.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest