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FxWirePro: USD/INR breaks key resistance at 65.02 mark, good to buy on dips

  • USD/INR is currently trading around 65.09 marks.
     
  • It made intraday high at 65.15 and low at 65.03 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 64.98 mark.
     
  • Key resistances are seen at 65.20, 65.32, 65.48, 65.65 and 65.82 marks respectively.
     
  • On the other side, initial supports are seen at 64.98, 64.80, 64.68, 64.50, 64.22, 64.02, 63.87, 63.68, 63.47, 63.22 and 63.17 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 Nifty was trading around 0.38 percent higher at 10,281.70 points and BSE Sensex was trading at 0.36 percent higher at 33,476.74 points.

We prefer to take long position in USD/INR around 65.10, stop loss at 64.98 and target of 65.32/65.48.

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