- USD/INR is currently trading around 67.46 marks.
- It made intraday high at 67.47 and low at 67.37 marks.
- Intraday bias remains bullish till the time pair holds key support at 67.32 marks.
- Key resistances are seen at 67.51, 67.81, 68.05 (crossover of 20D, 30D and 55D EMA) and 68.35 (March 1, 2016 high) respectively.
- On the other side, initial supports are seen at 67.32, 67.17, 66.91, 66.75, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s BSE Sensex was trading 0.20% lower at 26,817.40 and NSE Nifty was down by 0.13% to 8,228.10 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in USD/INR around 67.40 with stop loss at 67.28 and target of 67.67/67.78 marks.
