FxWirePro: USD/INR exhibits range bound movement, intraday bias remains neutral
USD/INR is currently trading around 66.82 marks. It made intraday high at 66.85 and low at 66.78 marks. Intraday bias remains neutral for the moment. Key resistances are seen at 66.89, 67.01, 67.17, 67.31, 67.45, 67.66, …
It made intraday high at 66.85 and low at 66.78 marks.
Intraday bias remains neutral for the moment.
Key resistances are seen at 66.89, 67.01, 67.17, 67.31, 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 66.64, 66.52, 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 8,874.70 points and BSE Sensex was trading at 0.24 percent higher at 28,768 points.
India’s February Nikkei markit services PMI increase to 50.3 vs previous 48.7.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
