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FxWirePro: USD/INR touches 68.99 mark in opening hours, stay bullish

  • USD/INR is currently trading around 68.93 marks.
     
  • It made intraday high at 68.99 and low at 68.82 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 68.50 mark.
     
  • Key resistances are seen at 69.10, 69.38 and 69.85 marks respectively.
  • On the other side, initial supports are seen at 68.52, 68.31, 68.12, 67.88, 67.47, 67.26 and 66.60 marks respectively.
     
  • 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.
     
  • India’s NSE was trading 0.63 pct lower at 11,342.55 points and BSE Sensex was trading 0.75 pct lower at 38,045.55 points.

We prefer to take long position on USD/INR around 68.90, stop loss 68.75 and target of 69.10/69.38.

By Aarti Panchal
  • Market Data
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