FxWirePro: USD/INR moves in stiff boundaries, stay neutral
USD/INR is currently trading around 75.53 marks. It made intraday high at 75.90 and low at 75.43 marks. Intraday bias remains neutral till the time pair holds key support at 75.40 mark. Key resistances are seen at 75.98,…
It made intraday high at 75.90 and low at 75.43 marks.
Intraday bias remains neutral till the time pair holds key support at 75.40 mark.
Key resistances are seen at 75.98, 76.24, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.
On the other side, initial supports are seen at 75.40, 75.20, 74.90, 74.50, 73.74, 73.58, 73.00 and 72.58 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 was trading 2.75 pct higher at 9,034.55 points and BSE Sensex was trading 2.71 pct higher at 30,866.24 points.
We prefer to take short position on USD/INR only below 75.40, stop loss at 75.98 and target of 74.90/74.50.
