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FxWirePro: USD/INR slips below 71.50 mark, bias remains bearish

  • USD/INR is currently trading around 71.41 marks.
     
  • It made intraday high at 71.84 and low at 71.39 marks
    .
  • Intraday bias remains bearish for the moment.
     
  • Key resistances are seen at 72.02, 72.47,72.86, 73.27 and 73.70 marks respectively.
     
  • On the other side, initial supports are seen at 71.12, 70.57, 70.27, 69.87, 69.66, 69.34, 69.02, 68.65 and 68.15 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • India’s NSE Nifty was trading around 0.66 percent higher at 10,808.58 points while BSE Sensex was trading 0.70 points higher at 36,038.55 points.

We prefer to take short position on USD/INR around 71.50, stop loss at 71.90 and target of 71.12.

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ARAnnual Primary Balance*

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2016 bln ARS

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January 22 19:00 UTC 785116785116m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 773296773296m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 773296773296m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 773296773296m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

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