• FxWirePro: USD/INR remains well supported above 70.00 Mark, good to buy on dips

    Source: FxWire Pro - Technicals / 16 Aug 2018 02:08:30   America/New_York

    • USD/INR is currently trading around 70.25 marks.
       
    • It made intraday high at 70.33 and low at 70.15 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • Key resistances are seen at 70.38, 70.56, 70.80 and 71.24 marks respectively.
       
    • On the other side, initial supports are seen at 69.90, 69.52, 69.02, 68.65, 68.50 and 68.34 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 0.04 percent lower at 11,430.22 points while BSE Sensex was trading 0.08 points lower at 37,820.82 points.

    We prefer to take long position on USD/INR around 70.20, stop loss at 69.90 and target of 70.80.

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