- USD/INR is currently trading around 67.32.
- It made intraday high at 67.37 and low at 67.01 marks.
- Intraday bias remains bullish for the moment.
- Current upward movement from 66.90 will take the parity higher towards key resistances at 67.40, 67.81, 68.05 (crossover of 20D, 30D and 55D EMA) and 68.35 (March 1, 2016 high).
- Alternatively, a sustained close below 66.90 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.
- On the other side, India’s BSE Sensex was trading 0.17% higher at 26,697.40 while NSE Nifty up by 0.02% to 8,157.40 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in USD/INR around 67.22, stop loss 66.90 and target 67.62/ 67.77 marks.
The material has been provided by InstaForex Company – www.instaforex.com