FxWirePro: USD/INR Breaks Key Support at 66.32, Good to Sell on Rallies

FxWirePro: USD/INR Breaks Key Support at 66.32, Good to Sell on Rallies

2 May 2016, 07:28
Roberto Jacobs
0
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FxWirePro: USD/INR Breaks Key Support at 66.32, Good to Sell on Rallies

  • USD/INR is currently trading at 66.32 marks. 
  • It made intraday high at 66.41 and low at 66.32 levels. 
  • Intraday bias remains bearish for the moment. 
  • A daily close below 66.32 will take the parity down around key supports at 66.10/65.95/65.81 marks respectively. 
  • On the other side, key resistance levels are seen at 66.48/66.72/ 66.86/ 66.95/ 67.15 levels. 
  • Today India will release Nikkei market manufacturing PMI data at 0500 GMT. 
  • In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.71% lower at 25,428 while NSE Nifty fell by 0.73% to 7,792 points.

We prefer to take short position in USD/INR only below 66.30, stop loss 66.72 and target 66.05 marks.

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



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