- USD/INR is currently trading around 67.15.
- It made intraday high at 67.23 and low at 67.10 marks.
- Intraday bias remains neutral till the time pair holds key support at 67.01 marks.
- A daily close above 67.40 is required to take the parity higher towards 68.00 marks.
- Current upward movement from 66.90 will take the parity higher towards key resistances at 67.40, 67.81, 68.05 (crossover of 20D, 30D and 55D EMA) and 68.35 (March 1, 2016 high).
- Alternatively, a sustained close below 66.90 will tests key supports at 66.82, 66.56, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95, 65.81 marks respectively.
- On the other side, India’s BSE Sensex was trading 0.34% higher at 26,817.40 while NSE Nifty up by 0.25% to 8,198.40 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in USD/INR around 67.12, stop loss 66.90 and target 67.40/ 67.62 marks.
