• FxWirePro: Indian Rupee trades marginally higher against U.S. Dollar, faces strong resistance at 68.43 Mark

    Source: FxWire Pro - Technicals / 25 May 2018 01:19:57   America/New_York

    • USD/INR is currently trading around 68.21 marks.
       
    • It made intraday high at 68.33 and low at 68.16 marks.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 68.43 mark.
       
    • Key resistances are seen at 68.43, 68.68, 68.83 and 68.98 marks respectively.
       
    • On the other side, initial supports are seen at 68.14, 67.98, 67.77, 67.58, 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. Current downside movement is short term trend correction only.
       
    • India’s NSE Nifty was trading around 0.45 percent higher at 10,559.80 points while BSE Sensex was trading 0.43 points higher at 34,820.88 points.

    We prefer to take long position in USD/INR around 68.10, stop loss at 67.98 and target of 68.43/68.58.

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