Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/INR jumps above 64.00 mark, short term trend reversal likely

  • USD/INR is currently trading around 64.01 marks.
     
  • It made intraday high at 64.10 and low at 63.91 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 63.75 marks.
     
  • Key resistances are seen at 64.03, 64.22, 64.48, 64.60, 64.82, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
     
  • On the other side, initial supports are seen at 63.92, 63.75, 63.62, 63.48, 63.36 and 63.11 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.32 percent lower at 9,877.15 points and BSE Sensex was trading at 0.38 percent lower at 31,678.55 points.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.  

We prefer to take long position in USD/INR around 63.98, stop loss at 63.75 and target of 64.22.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.