USD/INR hits fresh 2–month low, likely to fall further
Pair is currently trading at 66.73 levels. It made intraday high at 66.95 and low at 66.72 levels. Intraday bias remains bearish for the moment. Pair hits fresh 2- month low and likely to break key support at 66.51 marks…
It made intraday high at 66.95 and low at 66.72 levels.
Intraday bias remains bearish for the moment.
Pair hits fresh 2- month low and likely to break key support at 66.51 marks.
A sustained break below 66.51 will drag the parity towards 66.17 levels.
Alternatively, a daily close above 67.10 is required to turn the bias bullish again.
Initial resistances are seen at 67.51, 67.78 and 67.91 levels thereafter.
On the down side, key support levels are seen at 66.68, 66.51 and 66.17 levels.
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.
