Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/INR trades in narrow range, faces strong support at 71.02 mark

  • USD/INR is currently trading around 71.24 marks.
     
  • It made intraday high at 71.28 and low at 71.18 marks.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 71.02 mark.
     
  • Key resistances are seen at 71.56, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.
  • On the other side, initial supports are seen at 71.02, 70.90, 70.47, 70.10, 69.76 and 69.48 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 was trading 0.07 pct higher at 11,472.80 and BSE was trading 0.20 pct higher at 38,681.44 points.

We prefer to take long position on USD/INR around 71.20, stop loss 71.00 and target of 71.56/71.80.

By Aarti Panchal
  • Market Data
Close

Welcome to EconoTimes

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