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FxWirePro: USD/INR opens marginally lower at 67.14, bias remains bullish above 67.05

  • USD/INR is currently trading around 67.18 marks.
     
  • It made intraday high at 67.20 and low at 67.14 marks.
     
  • Intraday bias remains bullish till the time pair holds immediate support at 67.05 marks.
     
  • Key resistances are seen at 67.22, 67.32, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
     
  • On the other side, initial supports are seen at 67.05, 66.90, 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 0.02% higher at 27,715.41 and NSE Nifty almost flat at 8,507.25 points.
     
  • Important to note here that, 20D, 30D and 55D EMA heads up and confirm the bullish trend.

    We prefer to take long position in USD/INR only above 67.22, stop loss at 66.90 and target of 67.50/ 67.71.
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