- USD/INR is currently trading around 67.42 marks.
- It made intraday high at 67.79 and low at 67.25 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 67.80 mark.
- Key resistances are seen at 67.80, 68.10, 68.50, 68.68, 68.83 and 68.98 marks respectively.
- On the other side, initial supports are seen at 67.25, 67.02, 66.80, 66.68, 66.42, 66.30 and 66.16 marks respectively.
- 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.
- India’s NSE Nifty was trading around 0.70 percent higher at 10,678.80 points while BSE Sensex was trading 0.61 points higher at 35,140.88 points.
We prefer to take short position in USD/INR around 67.50, stop loss at 67.80 and target of 67.02.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
