FxWirePro: USD/INR hits fresh 5-month high at 68.08 after removal of large denomination notes in India
USD/INR is currently trading around 68.00 marks. It made intraday high at 68.08 and low at 67.89 marks. Intraday bias remains bullish till the time pair holds immediate support at 67.59 marks. Key resistances are seen at…
It made intraday high at 68.08 and low at 67.89 marks.
Intraday bias remains bullish till the time pair holds immediate support at 67.59 marks.
Key resistances are seen at 68.08, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
On the other side, initial supports are seen at 67.70, 67.59, 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 0.26 percent lower at 8,058.10 points and BSE Sensex was trading at 0.16 percent lower at 26,186.56 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/INR only above 68.08, stop loss 67.59 and target of 68.46.
