FxWirePro: Indian rupee opens marginally higher at 67.12 against US dollar, faces key resistance at 67.22
Monday, July 18, 2016 5:05 AM UTC
- USD/INR is currently trading around 67.12 marks.
- It made intraday high at 67.17 and low at 67.10 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 66.90 marks.
- Key resistances are seen at 67.22, 67.32, 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 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 0.47% higher at 27,966.41 and NSE Nifty up by 0.38% to 8,574.25 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 67.22, stop loss at 66.90 and target of 67.50/ 67.71 marks.