• FxWirePro: Indian Rupee falls gradually against U.S. Dollar, hits lowest level since January 2017

    Source: FxWire Pro - Technicals / 21 May 2018 02:09:50   America/New_York

    • USD/INR is currently trading around 68.16 marks.
       
    • It made intraday high at 68.22 and low at 68.04 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 67.77 mark
       
    • Key resistances are seen at 68.34, 68.50 and 68.83 marks respectively.
       
    • On the other side, initial supports are seen at 67.77, 67.50, 67.18, 67.02, 66.80, 66.68, 66.42, 66.30 and 66.16 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 0.17 percent lower at 10,578.80 points while BSE Sensex was trading 0.09 points lower at 34,819.88 points.

    We prefer to take long position in USD/INR around 68.12, stop loss at 67.90 and target of 68.50.

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