Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/INR trades in narrow range, further sideways movement likely

  • USD/INR is currently trading around 69.76 marks.
     
  • It made intraday high at 69.85 and low at 69.71 marks.
     
  • Intraday bias remains slightly bearish till the time pair holds immediate resistance at 70.20 marks.
     
  • Key resistances are seen at 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
  • On the other side, initial supports are seen at 69.70, 69.46, 69.22, 68.92, 68.49, 67.88 and 67.67 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • India’s NSE was trading 0.16 pct higher at 11,848.55 points and BSE Sensex was trading 0.26 pct higher at 39,454.79 points.

We prefer to take long position on USD/INR only above 69.85, stop loss 69.50 and target of 70.20/70.42.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.