FxWirePro: Indian rupee rises against U.S. dollar ahead of industrial output, manufacturing output data

• USD/INR is currently trading around 68.55 marks.
   
• It made intraday high at 68.80 and low at 68.46 marks.
   
• Intraday bias remains slightly bearish for the moment.
   
• Key resistances are seen at 68.99, 69.18, 69.52 and 69.88 marks respectively.
   
• On the other side, initial supports are seen at 68.47, 68.34, 68.14, 67.97, 67.79 and 67.59 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 0.82 percent higher at 11,030.22 points while BSE Sensex was trading 0.36 points higher at 36,553.82 points.
   
• India will release industrial out as well as manufacturing output data at 1130 GMT.

We prefer to take long position on USD/INR around 68.48, stop loss at 68.30 and target of 69.20.