• FxWirePro: usd//inr hovers around key support at 68.20 Mark, sustained close below requires for downside rally

    Source: FxWire Pro - Technicals / 17 Jul 2018 02:32:08   America/New_York

    • USD/INR is currently trading around 68.30 marks.
       
    • It made intraday high at 68.40 and low at 68.21 marks.
       
    • Intraday bias remains neutral till the time pair holds key support at 68.15 mark.
       
    • Key resistances are seen at 68.40, 68.58, 68.80, 68.99, 69.18, 69.52 and 69.88 marks respectively.
       
    • On the other side, initial supports are seen at 68.15, 67.97, 67.79 and 67.59 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 0.17 percent higher at 10,955.22 points while BSE Sensex was trading 0.12 points higher at 36,366.82 points.

    We prefer to take short position on USD/INR only below 68.15, stop loss at 68.40 and target of 67.97.

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