FxWirePro: USD/INR trades in narrow range, stay bullish only above 67.80 mark

• USD/INR is currently trading around 67.76 marks.
   
• It made intraday high at 67.79 and low at 67.58 marks.
   
• Intraday bias remains neutral for the moment.
   
• Key resistances are seen at 67.80, 67.96, 68.09, 68.21, 68.50 and 68.83 marks respectively.
   
• On the other side, initial supports are seen at 67.50, 67.18, 67.02, 66.80, 66.68, 66.42, 66.30 and 66.16 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 Nifty was trading around 0.08 percent lower at 10,732.80 points while BSE Sensex was trading 0.06 points lower at 35,366.88 points.

We prefer to take long position in USD/INR only above 67.80, stop loss at 67.50 and target of 68.09.

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