FxWirePro: USD/INR hits fresh 3-week low at 73.09 mark, further downside likely
USD/INR is currently trading around 73.15 marks. It made intraday high at 73.38 and low at 73.09 marks. Intraday bias remains bearish time pair holds key resistance at 73.70 mark. Key resistances are seen at 73.57, 73.70…
It made intraday high at 73.38 and low at 73.09 marks.
Intraday bias remains bearish time pair holds key resistance at 73.70 mark.
Key resistances are seen at 73.57, 73.70, 73.82, 74.28, 74.57, 74.77 and 74.95 marks respectively.
On the other side, initial supports are seen at 73.12, 72.89, 72.45, 72.12, 71.50, 71.33 and 71.13 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
India’s NSE Nifty was trading around 0.05 percent higher at 10,310.20 points while BSE Sensex was trading 0.13 points higher at 34,361.86 points.
We prefer to take short position on USD/INR around 73.20, stop loss at 73.57 and target of 72.45.
