• FxWirePro: Indian Rupee strengthens against U.S. Dollar, good to sell on rallies

    Source: FxWire Pro - Technicals / 11 Dec 2017 01:05:29   America/New_York

    • USD/INR is currently trading around 64.35 marks.
       
    • It made intraday high at 64.49 and low at 64.33 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 64.49 mark.
       
    • Key resistances are seen at64.49, 64.62, 64.75, 64.87, 64.95, 65.12 and 65.28 marks respectively.
       
    • On the other side, initial supports are seen at 64.30, 64.22, 64.05, 63.85 and 63.68 marks respectively.
       
    • India’s NSE Nifty was trading around 0.55 percent higher at 10,321.95 points and BSE Sensex was trading at 0.41 percent higher 33,419.92 points.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take short position in USD/INR around 64.38, stop loss at 64.55 and target of 64.22/64.05.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

Share on