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

    Source: FxWire Pro - Technicals / 15 May 2018 02:16:53   America/New_York

    • USD/INR is currently trading around 67.54 marks.
       
    • It made intraday high at 67.82 and low at 67.50 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 67.02 mark.
       
    • Key resistances are seen at 67.82, 68.21, 68.50 and 68.83 marks respectively.
       
    • On the other side, initial supports are seen at 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 0.82 percent higher at 10,894.80 points while BSE Sensex was trading 0.88 points higher at 35,864.95 points.

    We prefer to take long position in USD/INR around 67.50, stop loss at 67.15 and target of 68.21/68.50.

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