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FxWirePro: USD/ZAR edges higher but bearish outlook persists 
- USD/INR is currently trading around 66.98 marks.
- It made intraday high at 67.50 and low at 66.95 marks.
- Intraday bias remains neutral till the time pair holds immediate support at 66.82 marks.
- Key resistances are seen at 67.28, 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, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 1.49 percent lower at 8,398.10 points and BSE Sensex was trading at 1.59 percent lower at 27,080.46 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position in USD/INR only above 67.18, stop loss 66.82 and target of 67.52/67.71.
