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FxWirePro: Indian rupee strengthens on higher than expected manufacturing PMI data

Monday, June 3, 2019 6:11 AM UTC

USD/INR is currently trading around 69.39 marks.
It made intraday high at 69.52 and low at 69.35 marks.
Intraday bias remains slightly bearish for the moment.
Key resistances are seen at 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.

On the other side, initial supports are seen 69.30, 68.92, 68.49, 67.88 and 67.67 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/INR around 69.40, stop loss 69.55 and target of 68.92.

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FxWirePro: Indian rupee strengthens on higher than expected manufacturing PMI data

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