FxWirePro: USD/INR rejects key resistance at 68.85 mark, downside limited
USD/INR is currently trading around 68.62 marks. It made intraday high at 68.77 and low at 68.59 marks. Intraday bias remains slightly bearish till the time pair holds immediate ressitance at 68.85 marks. Key resistances…
It made intraday high at 68.77 and low at 68.59 marks.
Intraday bias remains slightly bearish till the time pair holds immediate ressitance at 68.85 marks.
Key resistances are seen at 68.85 and 69.52(August 2013 high) marks respectively.
On the other side, initial supports are seen at 69.29, 67.99, 67.72, 67.59, 67.22, 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 0.48 percent lower at 7,995.10 points and BSE Sensex was trading at 0.39 percent lower at 25,951.08 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/INR around 68.45, stop loss 67.29 and target of 68.85/69.52.
