FxWirePro: USD/INR remains well supported below 67.00 mark; stay bearish

12 September 2016, 08:22
Eko Rediantoro
0
3

  • USD/INR is currently trading around 66.87 marks.
     
  • It made intraday high at 66.92 and low at 66.85 marks.
     
  • Intraday bias remains bearish till the time pair holds immediate resistance at 67.05 marks.
     
  • Key resistances are seen at 66.92, 67.05, 67.16, 67.28, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
     
  • On the other side, initial supports are seen at 66.62, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.21, 66.10, 65.95 and 65.81 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 1.46 percent lower at 8,774.90 points.

We prefer to take short position in USD/INR around 66.90, stop loss at 67.05 and target of 66.62/66.40.


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