• FxWirePro: USD/INR back above 68.00 Mark, stay bullish

    Source: FxWire Pro - Technicals / 18 May 2018 02:33:55   America/New_York

    • USD/INR is currently trading around 68.01 marks.
       
    • It made intraday high at 68.12 and low at 67.77 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 67.50 mark.
       
    • Key resistances are seen at 68.18, 68.34, 68.50 and 68.83 marks respectively.
       
    • On the other side, initial supports are seen at 67.76, 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 0.33 percent lower at 10,648.80 points while BSE Sensex was trading 0.37 points lower at 35,014.88 points.

    We prefer to take long position in USD/INR around 67.95, stop loss at 67.70 and target of 68.34.

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