USD/INR is currently trading around 75.62 marks. It made intraday high at 75.91 and low at 75.48 marks. Intraday bias remains bearish till the time pair holds key resistance at 76.24 mark. Key resistances are seen at 76.…
It made intraday high at 75.91 and low at 75.48 marks.
Intraday bias remains bearish till the time pair holds key resistance at 76.24 mark.
Key resistances are seen at 76.24, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.
On the other side, initial supports are seen at 75.20, 74.90, 74.50, 73.74, 73.58, 73.00 and 72.58 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.
India’s NSE was trading 1.46 pct lower at 8,133 points and BSE Sensex was trading 1.56 pct lower at 27,772.55 points.
We prefer to take short position on USD/INR around 75.65, stop loss at 75.92 and target of 75.20.
