FxWirePro: USD/INR rejects key resistance at 67.07 mark, stay bearish
USD/INR is currently trading around 66.95 marks. It made intraday high at 67.01 and low at 66.94 marks. Intraday bias remains bearish till the time pair holds key resistance at 67.07 marks. Key resistances are seen at 67…
It made intraday high at 67.01 and low at 66.94 marks.
Intraday bias remains bearish till the time pair holds key resistance at 67.07 marks.
Key resistances are seen at 67.07, 67.20, 67.31, 67.45, 67.66, 67.87, 67.99, 68.15, 68.32, 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 66.85, 66.75, 66.64, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
In addition, India’s NSE Nifty was trading around 0.22 percent lower at 8,785.70 points and BSE Sensex was trading at 0.15 percent lower at 28,310 points.
India will release WPI inflation data at 0630 GMT.
Yesterday India released CPI data with negative numbers at 3.17 pct vs 3.41 pct previous release.
We prefer to take short position on USD/INR around 66.98, stop loss at 67.07 and target of 66.85/66.75/66.64.
