• FxWirePro: USD/INR consolidates around 68.11 Mark, downside limited

    Source: FxWire Pro - Technicals / 22 May 2018 01:49:28   America/New_York

    • USD/INR is currently trading around 68.04 marks.
       
    • It made intraday high at 68.14 and low at 67.98 marks.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 68.11 mark.
       
    • Key resistances are seen at 68.27, 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 0.26 percent higher at 10,544.80 points while BSE Sensex was trading 0.27 points higher at 34,710.88 points.

    We prefer to take long position in USD/INR only above 68.15, stop loss at 67.90 and target of 68.50.

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