FxWirePro: Indian Rupee Opens Higher at 66.50 Against US Dollar, Intraday Bias Remains Bullish

FxWirePro: Indian Rupee Opens Higher at 66.50 Against US Dollar, Intraday Bias Remains Bullish

• USD/INR is currently trading at 66.52 marks
• It made intraday high at 66.56 and low at 66.47 levels. 
• Intraday bias remains bullish till the time pair holds key support at 66.32 marks. 
• A daily close below 66.32 will take the parity down around key supports at 66.10/65.95 levels respectively. 
• On the top side, key resistance levels are seen at 66.50/66.64/66.86/66.95/ 67.15 levels. 
• In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.26% lower at 25,808 while NSE Nifty fell 0.37% to 7881 points. 
• Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend.
  

We prefer to take long position in USD/INR around 66.50, stop loss 66.32 and target 66.89 levels.

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