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, …
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.
