FxWirePro: Indian rupee trades marginally higher against major peers ahead of RBI’s rate decision
Wednesday, February 8, 2017 6:55 AM UTC
- USD/INR is currently trading around 67.30 marks.
- It made intraday high at 67.36 and low at 67.27 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 67.36, 67.45, 67.66, 67.87, 67.99, 68.15, 68.32, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
- On the other side, initial supports are seen at 67.17, 67.07, 66.99, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.02 percent higher at 8,769.70 points and BSE Sensex was trading at 0.02 percent lower at 28,329 points.
- India will release repo rate as well as reverse repo rate today.
We prefer to take long position on USD/INR around 67.22, stop loss at 66.99 and target of 67.50/67.66.