Indian rupee back below 68.00, intraday bias remains neutral
USD/INR is currently trading at 67.6050 levels. It made intraday high at 67.76 and low at 67.59 levels. Intraday bias remains neutral till the time pair holds key support level at 67.50. A daily close below 67.50 will dr…
It made intraday high at 67.76 and low at 67.59 levels.
Intraday bias remains neutral till the time pair holds key support level at 67.50.
A daily close below 67.50 will drag the parity towards 67.11/66.24 levels.
Alternatively, reversal from key support level will take the parity above 68.0 marks.
Expected short term trading range for USD/INR is 67.50 to 68.78 levels.
In addition, Indian stock market continues to trade higher on the 2nd consecutive day. NSE Nifty was trading 1.94% higher to 7362 while BSE Sensex was trading 1.82% higher at 24,213 point.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
