FxWirePro: USD/INR breaks key resistance at 66.86, good to buy on dips
Thursday, August 4, 2016 5:22 AM UTC
- USD/INR is currently trading around 66.96 marks.
- It made intraday high at 66.99 and low at 66.75 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 66.82 marks.
- Key resistances are seen at 67.05, 67.34, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 66.82, 66.62, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, In addition, India’s BSE Sensex was trading 0.15 percent higher at 27,738.18 and NSE Nifty down by 0.04 percent at 8,541.70 points.
We prefer to take long position in USD/INR only above 67.05, stop loss at 66.82 and target of 67.32.