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FxWirePro: USD/INR hovers around 67.50 mark ahead of India’s inflation data

  • USD/INR is currently trading around 67.49 marks.
     
  • It made intraday high at 67.48and low at 67.38 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 67.30 mark.
     
  • Key resistances are seen at 67.57, 67.62, 67.91, 68.15, 68.26, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
     
  • On the other side, initial supports are seen at 67.32, 67.26, 67.19, 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 0.27 percent lower at 8,199.25 points and BSE Sensex was trading at 0.10 percent lower at 26,670.27 points.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • India will release manufacturing, fuel as well as food inflation data at 0630 GMT.

We prefer to take long position in USD/INR only above 67.52, stop loss at 67.32 and target of 67.96.

  • Market Data
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