FxWirePro: USD/INR stabilizes below 71.00 mark, bias remains neutral on account of Indian bank holiday
USD/INR is currently trading around 70.95 marks. It made intraday high at 71.04 and low at 70.91 marks. Intraday bias remains neutral for the moment. Key resistances are seen at 71.02, 71.25, 71.78 and 72.23 marks respec…
It made intraday high at 71.04 and low at 70.91 marks.
Intraday bias remains neutral for the moment.
Key resistances are seen at 71.02, 71.25, 71.78 and 72.23 marks respectively.
On the other side, initial supports are seen at 70.47, 70.10, 69.63, 69.16, 68.85, 68.66, 68.52 and 68.31 marks respectively.
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.
Indian banks will remain closed in observance of Eid festival.
We prefer to take long position on USD/INR only above 71.05, stop loss 70.80 and target of 71.26/71.78.
