FxWirePro: USD/INR hits fresh 3-week high at 65.33 mark, India’s industrial output data in focus
USD/INR is currently trading around 65.26 marks. It made intraday high at 65.33 and low at 65.09 marks. Intraday bias remains bullish till the time pair holds key support at 64.80 mark. Key resistances are seen at 65.36,…
It made intraday high at 65.33 and low at 65.09 marks.
Intraday bias remains bullish till the time pair holds key support at 64.80 mark.
Key resistances are seen at 65.36, 65.48, 65.65 and 65.82 marks respectively.
On the other side, initial supports are seen at 65.08, 64.87, 64.70, 64.60, 64.42, 64.22, 64.02, 63.87, 63.68, 63.47, 63.22 and 63.17 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 0.08 percent lower at 10,408.80 points while BSE Sensex was trading 0.03 points higher at 33,951.23 points.
India will release industrial output data at 1130 GMT.
We prefer to take long position in USD/INR around 65.17, stop loss at 65.00 and target of 65.36/65.48.
