USD/INR is currently trading around 67.89 marks. It made intraday high at 67.95 and low at 67.84 marks. Intraday bias remains bearish till the time pair holds key resistance at 68.16 marks. Key resistances are seen at 68…
It made intraday high at 67.95 and low at 67.84 marks.
Intraday bias remains bearish till the time pair holds key resistance at 68.16 marks.
Key resistances are seen at 68.02, 68.16, 68.26, 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 67.67, 67.50, 67.32, 67.26, 67.19, 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 0.60 percent higher at 8,448.70 points and BSE Sensex was trading at 0.38 percent higher at 27,328 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/INR around 67.90, stop loss 68.16 and target of 67.67.
