FxWirePro: USD/INR remains well supported above 67.00 mark, good to buy on dips
USD/INR is currently trading around 67.21 marks. It made intraday high at 67.23 and low at 67.06 marks. Intraday bias remains bullish till the time pair holds key support at 66.91 marks. Key resistances are seen at 67.35…
It made intraday high at 67.23 and low at 67.06 marks.
Intraday bias remains bullish till the time pair holds key support at 66.91 marks.
Key resistances are seen at 67.35, 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 67.05, 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 0.64% lower at 26,545.99 and NSE Nifty was down by 0.76% to 8,144.10 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 67.15 with stop loss at 66.91 and target of 67.45 marks.
