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- USD/INR is currently trading around 68.13 marks.
- It made intraday high at 68.22 and low at 67.22 marks.
- Intraday bias remains bullish till the time pair holds key support at 67.62 marks.
- Key resistances are seen at 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 68.02, 67.62, 67.37, 67.17, 66.91, 66.75, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s BSE Sensex was trading 3.24% lower at 26,127.40 and NSE Nifty was down by 3.50% to 7,980.10 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in USD/INR at 68.10 with stop loss at 67.62 and target of 68.78 marks.
