• FxWirePro: Indian Rupee trades marginally lower against U.S. Dollar, god to buy on dips

    Source: FxWire Pro - Technicals / 23 Oct 2018 02:37:13   America/New_York

    • USD/INR is currently trading around 73.75 marks.
       
    • It made intraday high at 73.78 and low at 73.60 marks.
       
    • Intraday bias remains bullish time pair holds key support at 73.10 mark.
       
    • Key resistances are seen at 73.82, 74.28, 74.57, 74.77 and 74.95 marks respectively.
    • On the other side, initial supports are seen at 73.57, 73.35, 73.12, 72.89, 72.45, 72.12, 71.50, 71.33 and 71.13 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 0.27 percent lower at 10,218.20 points while BSE Sensex was trading 0.23 points lower at 34,055.86 points.

    We prefer to take long position on USD/INR around 73.65, stop loss at 73.35 and target of 74.28.

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