FxWirePro: USD/INR hits fresh 5-month high at 67.89 mark, opens lower around 37 paise against U.S dollar
USD/INR is currently trading around 67.72 marks. It made intraday high at 67.89 and low at 67.60 marks. Intraday bias remains bullish till the time pair holds immediate support at 67.22 marks. Key resistances are seen at…
It made intraday high at 67.89 and low at 67.60 marks.
Intraday bias remains bullish till the time pair holds immediate support at 67.22 marks.
Key resistances are seen at 67.89, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
On the other side, initial supports are seen at 67.47, 67.22, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
In addition, India’s NSE Nifty was trading around 1.36 percent lower at 8,184.10 points and BSE Sensex was trading at 1.37 percent lower at 26,452.56 points.
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.
We prefer to take long position in USD/INR only above 67.60, stop loss 66.22 and target of 67.89/68.35.
