Indian Rupee Erases Previous Gain Against US Dollar, Intraday Bias Remains Bullish

Indian Rupee Erases Previous Gain Against US Dollar, Intraday Bias Remains Bullish

21 March 2016, 05:39
Roberto Jacobs
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Indian Rupee Erases Previous Gain Against US Dollar, Intraday Bias Remains Bullish

  • USD/INR is currently trading at 66.55 marks. 
  • It made intraday high at 66.55 and low at 66.46 levels. 
  • Intraday bias remains bullish for the moment. 
  • A daily close below 66.35 will take the parity back around key support at 66.18/65.95 levels respectively. 
  • Alternatively, reversal from key support will turn bias slightly bullish and take the parity back above 67.00 marks. 
  • On the top side, key resistance levels are seen at 66.95, 67.15 and 67.70 levels.

We prefer to take long position in USD/INR around 66.50, stop loss 66.35 and target 66.70/ 67.18 levels.

The material has been provided by InstaForex Company - www.instaforex.com

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