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FxWirePro: USD/INR trades in narrow range, bias remains neutral

  • USD/INR is currently trading around 65.34 marks.
     
  • It made intraday high at 65.39 and low at 65.24 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 65.25 marks.  
     
  • Key resistances are seen at 65.42, 65.62, 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
     
  • On the other side, initial supports are seen at 65.25, 65.05, 64.87, 64.68 and 64.48 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.12 percent lower at 9,116.20 points and BSE Sensex was trading at 0.17 percent lower at 29,462.80 points.

We prefer to take long position in USD/INR only above 65.42, stop loss at 65.21and target of 65.60/65.80.

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