FxWirePro: USD/INR slips below 70.00 mark, short term trend reversal likely
USD/INR is currently trading around 69.83 marks. It made intraday high at 69.89 and low at 69.79 marks. Intraday bias remains neutral for the moment. Key resistances are seen at 70.05, 70.20, 70.38, 70.56, 70.80 and 71.2…
It made intraday high at 69.89 and low at 69.79 marks.
Intraday bias remains neutral for the moment.
Key resistances are seen at 70.05, 70.20, 70.38, 70.56, 70.80 and 71.24 marks respectively.
On the other side, initial supports are seen at 69.70, 69.52, 69.02, 68.65, 68.50 and 68.34 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
India’s NSE Nifty was trading around 0.50 percent higher at 11,528.22 points while BSE Sensex was trading 0.56 points higher at 38,161.82 points.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
