• FxWirePro: USD/INR exhibits range bound movement, faces strong support at 67.38 Mark

    Source: FxWire Pro - Technicals / 12 Jun 2018 03:28:16   America/New_York

    • USD/INR is currently trading around 67.43 marks.
       
    • It made intraday high at 67.54 and low at 67.42 marks.
       
    • Intraday bias remains neutral till the time pair holds key support at 67.40 mark.
       
    • Key resistances are seen at 67.52, 67.97, 68.10, 68.50, 68.68, 68.83 and 68.98 marks respectively.
       
    • On the other side, initial supports are seen at 67.38, 67.02, 66.82, 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 0.62 percent higher at 10,854.80 points while BSE Sensex was trading 0.66 points higher at 35,716.88 points.

    We prefer to take short position in USD/INR only below 67.38, stop loss at 67.60 and target of 67.02.

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