FxWirePro: USD/INR Hits Fresh 1-month High at 67.26, Intraday Bias Remains Bullish
19 May 2016, 08:34
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FxWirePro: USD/INR Hits Fresh 1-month High at 67.26, Intraday Bias Remains Bullish
- USD/INR is currently trading around 67.22.
- It made intraday high at 67.26 and low at 67.12 marks.
- Intraday bias remains bullish till the time pair holds key support at 66.82 marks.
- A daily close above 67.26 will take the parity up towards key resistances at 67.41(20D EMA), 67.76 and 68.35 (March 1, 2016 high).
- Alternatively, reversal from key 67.28 will tests key supports at 66.82, 66.56, 66.42(May 01, 2016 low) /66.32 (November 2015 low) /66.23/66.10/65.95/65.81 marks respectively.
- In addition, Indian stock markets are trading on a negative note. As BSE Sensex was trading 0.23% lower at 25,646.94 while NSE Nifty down by 0.40% to 7,838 points.
We prefer to take long position in USD/INR around 67.18, stop loss 66.82 and target 67.55 levels.
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