FxWirePro: USD/INR remains well supported below 67.00 mark; stay bearish
USD/INR is currently trading around 66.87 marks. It made intraday high at 66.92 and low at 66.85 marks. Intraday bias remains bearish till the time pair holds immediate resistance at 67.05 marks. Key resistances are seen…
It made intraday high at 66.92 and low at 66.85 marks.
Intraday bias remains bearish till the time pair holds immediate resistance at 67.05 marks.
Key resistances are seen at 66.92, 67.05, 67.16, 67.28, 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 66.62, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.21, 66.10, 65.95 and 65.81 marks respectively.
In addition, India’s NSE Nifty was trading around 1.46 percent lower at 8,774.90 points.
We prefer to take short position in USD/INR around 66.90, stop loss at 67.05 and target of 66.62/66.40.
