FxWirePro: USD/INR takes halt around 73.90 mark, short term trend reversal likely
USD/INR is currently trading around 73.47 marks. It made intraday high at 73.76 and low at 73.40 marks. Intraday bias remains slightly bearish for the moment. Key resistances are seen at 73.93, 74.12, 74.46, 74.68 and 75…
It made intraday high at 73.76 and low at 73.40 marks.
Intraday bias remains slightly bearish for the moment.
Key resistances are seen at 73.93, 74.12, 74.46, 74.68 and 75.10 marks respectively.
On the other side, initial supports are seen at 73.00, 72.58, 71.80, 71.47, 71.22, 71.10, 70.90, 70.68, 70.47, 70.32, 70.10, 69.76 and 69.48 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 was trading 0.30 pct higher at 11,287.75 points and BSE sensex 0.36 pct higher at 38,548.05 points.
We prefer to take short position on USD/INR around 73.55, stop loss at 73.80 and target of 73.00/72.58.
