- USD/INR is currently trading around 67.72 marks.
- It made intraday high at 67.89 and low at 67.60 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 67.22 marks.
- Key resistances are seen at 67.89, 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 67.47, 67.22, 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 1.36 percent lower at 8,184.10 points and BSE Sensex was trading at 1.37 percent lower at 26,452.56 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position in USD/INR only above 67.60, stop loss 66.22 and target of 67.89/68.35.
