FxWirePro: USD/INR opens flat at 67.41, down side limited
Tuesday, July 26, 2016 4:31 AM UTC
- USD/INR is currently trading around 67.37 marks.
- It made intraday high at 67.41 and low at 67.36 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 67.17 marks.
- Key resistances are seen at 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 67.17, 67.05, 66.90, 66.75, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s BSE Sensex was trading 0.10 percent higher at 28,113.41 and NSE Nifty almost flat at 8,636.25 points.
- Important to note here that, 20D, 30D and 55D EMA heads up and confirm the bullish trend.
We prefer to take long position in USD/INR only above 67.42, stop loss at 66.17 and target of 67.71/67.84.